Penobscot Investment Management Company Inc. lowered its stake in shares of Boeing Co. (NYSE:BA) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,840 shares of the aircraft producer’s stock after selling 105 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Boeing were worth $1,148,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. CWM LLC raised its position in shares of 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 last quarter. Loomis Sayles & Co. L P increased its position in shares of 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. Maryland Capital Management bought a new position in shares of Boeing during the first quarter valued at approximately $203,000. Quadrant Capital Group LLC increased its position in shares of Boeing by 16.0% in the second quarter. Quadrant Capital Group LLC now owns 1,635 shares of the aircraft producer’s stock valued at $205,000 after buying an additional 226 shares during the period. Finally, Atlas Brown Inc. bought a new position in shares of Boeing during the second quarter valued at approximately $220,000. 75.49% of the stock is currently owned by hedge funds and other institutional investors.
Boeing Co. (NYSE:BA) traded up 0.82% during trading on Tuesday, hitting $135.10. The stock had a trading volume of 2,263,512 shares. Boeing Co. has a 52 week low of $102.10 and a 52 week high of $150.59. The company has a market cap of $84.28 billion, a price-to-earnings ratio of 24.32 and a beta of 1.03. The company has a 50-day moving average of $131.42 and a 200 day moving average of $131.26.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.48. The company had revenue of $24.80 million for the quarter, compared to analyst estimates of $23.22 million. Boeing had a return on equity of 82.66% and a net margin of 3.84%. Boeing’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. On average, equities research analysts anticipate that Boeing Co. will post $6.29 EPS for the current year.
BA has been the topic of several analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $160.00 price target on shares of Boeing in a report on Monday, June 20th. Jefferies Group reiterated a “buy” rating on shares of Boeing in a report on Wednesday, July 6th. Drexel Hamilton reiterated a “buy” rating and set a $158.00 price target on shares of Boeing in a report on Friday, July 15th. Argus reiterated a “buy” rating and set a $155.00 price target on shares of Boeing in a report on Wednesday, August 3rd. Finally, Citigroup Inc. lowered their price target on Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $147.94.
In related news, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall L. Stephenson acquired 1,871 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average price of $133.89 per share, with a total value of $250,508.19. Following the completion of the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The disclosure for this purchase can be found here. Insiders own 0.58% of the company’s stock.
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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