Whittier Trust Co. cut its position in shares of Boeing Co. (NYSE:BA) by 6.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 119,861 shares of the aircraft producer’s stock after selling 8,356 shares during the period. Whittier Trust Co.’s holdings in Boeing were worth $15,566,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in BA. Bank of Montreal Can purchased a new stake in shares of Boeing during the second quarter worth about $316,346,000. Franklin Resources Inc. boosted its stake in shares of Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock worth $622,808,000 after buying an additional 1,984,650 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Boeing during the first quarter worth about $76,827,000. Scopia Capital Management LP purchased a new stake in shares of Boeing during the first quarter worth about $38,707,000. Finally, Geode Capital Management LLC boosted its stake in shares of Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock worth $699,957,000 after buying an additional 304,674 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Boeing Co. (NYSE:BA) traded down 0.42% during midday trading on Friday, hitting $133.85. The stock had a trading volume of 4,299,180 shares. The stock has a market cap of $83.50 billion, a PE ratio of 24.10 and a beta of 1.03. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The company’s 50 day moving average price is $131.41 and its 200-day moving average price is $131.15.
Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The firm earned $24.80 million during the quarter, compared to analyst estimates of $23.22 million. During the same period last year, the company earned $1.62 EPS. Boeing’s quarterly revenue was up .9% compared to the same quarter last year. Analysts forecast that Boeing Co. will post $6.29 EPS for the current fiscal year.
BA has been the topic of a number of research reports. Goldman Sachs Group Inc. set a $107.00 price objective on Boeing and gave the company a “sell” rating in a research note on Tuesday, August 30th. Vetr lowered Boeing from a “hold” rating to a “sell” rating and set a $126.07 target price for the company. in a report on Wednesday, August 24th. Jefferies Group reaffirmed a “buy” rating and set a $133.53 target price (down previously from $165.00) on shares of Boeing in a report on Friday, July 22nd. JPMorgan Chase & Co. set a $140.00 target price on Boeing and gave the company a “neutral” rating in a report on Monday, July 4th. Finally, Citigroup Inc. reduced their target price on Boeing from $168.00 to $160.00 and set a “buy” rating for the company 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 issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $147.94.
In related news, SVP Diana L. Sands sold 14,151 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Randall L. Stephenson purchased 1,871 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, with a total value of $250,508.19. Following the completion of the purchase, the director now directly owns 3,721 shares in the company, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Corporate 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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