Jensen Investment Management Inc. cut its stake in Boeing Co. (NYSE:BA) by 8.4% during the second quarter, Holdings Channel reports. The firm owned 3,070 shares of the aircraft producer’s stock after selling 280 shares during the period. Jensen Investment Management Inc.’s holdings in Boeing were worth $399,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P boosted its stake in Boeing by 82.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,513 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 682 shares during the period. CWM LLC boosted its stake in Boeing by 23.6% in the second quarter. CWM LLC now owns 1,477 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 282 shares during the period. Maryland Capital Management purchased a new stake in Boeing during the first quarter valued at approximately $203,000. Benjamin F. Edwards & Company Inc. boosted its stake in Boeing by 19.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,708 shares of the aircraft producer’s stock valued at $222,000 after buying an additional 275 shares during the period. Finally, Evanson Asset Management LLC boosted its stake in Boeing by 2.4% in the second quarter. Evanson Asset Management LLC now owns 1,719 shares of the aircraft producer’s stock valued at $223,000 after buying an additional 41 shares during the period. Institutional investors own 75.46% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.69% on Wednesday, hitting $132.23. 1,772,965 shares of the stock were exchanged. Boeing Co. has a one year low of $102.10 and a one year high of $150.59. The company has a market cap of $82.49 billion, a P/E ratio of 23.80 and a beta of 1.06. The company’s 50 day moving average price is $131.59 and its 200-day moving average price is $131.01.
Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.48. The company had revenue of $24.80 million for the quarter, compared to the consensus estimate of $23.22 million. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. Equities research analysts predict that Boeing Co. will post $6.29 EPS for the current fiscal year.
Several analysts recently commented on the stock. Goldman Sachs Group Inc. set a $107.00 price objective on shares of Boeing and gave the company a “sell” rating in a research note on Thursday, July 28th. Morgan Stanley assumed coverage on shares of Boeing in a research note on Thursday, June 23rd. They issued an “overweight” rating and a $153.00 price objective for the company. Vetr cut shares of Boeing from a “hold” rating to a “sell” rating and set a $126.07 price objective for the company. in a research note on Wednesday, August 24th. Canaccord Genuity raised their price objective on shares of Boeing from $140.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, Jefferies Group reiterated a “buy” rating and issued a $133.53 price objective (down previously from $165.00) on shares of Boeing in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Boeing currently has a consensus rating of “Hold” and a consensus price target of $147.18.
In other Boeing news, Director Randall L. Stephenson bought 1,871 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the acquisition, the director now directly owns 3,721 shares of the company’s stock, valued at $498,204.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $133.06, for a total value of $1,882,932.06. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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