Welch & Forbes LLC lowered its position in Boeing Co (NYSE:BA) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,027 shares of the aircraft producer’s stock after selling 70 shares during the quarter. Welch & Forbes LLC’s holdings in Boeing were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of BA. NuWave Investment Management LLC lifted its stake in shares of Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Guidant Wealth Advisors acquired a new position in shares of Boeing during the second quarter worth about $28,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Boeing during the second quarter worth about $40,000. Finally, Next Capital Management LLC acquired a new position in shares of Boeing during the second quarter worth about $42,000. Hedge funds and other institutional investors own 67.85% of the company’s stock.
Shares of Boeing stock opened at $374.92 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98. The firm has a market cap of $210.97 billion, a P/E ratio of 23.42, a P/E/G ratio of 12.24 and a beta of 1.25. Boeing Co has a fifty-two week low of $292.47 and a fifty-two week high of $446.01. The business has a 50-day moving average price of $371.33 and a 200 day moving average price of $362.55.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The firm had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.33 earnings per share. As a group, equities research analysts anticipate that Boeing Co will post 3.46 earnings per share for the current year.
A number of analysts have recently issued reports on BA shares. Citigroup set a $430.00 target price on Boeing and gave the stock a “buy” rating in a research report on Monday, July 15th. Buckingham Research set a $395.00 target price on Boeing and gave the stock a “hold” rating in a research report on Tuesday. Wolfe Research lowered Boeing from an “outperform” rating to a “peer perform” rating and dropped their target price for the stock from $404.00 to $393.00 in a research report on Thursday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $425.00 target price on shares of Boeing in a research report on Thursday, July 25th. Finally, UBS Group set a $470.00 target price on Boeing and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $403.10.
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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