Cigna Investments Inc. New lifted its stake in Boeing Co (NYSE:BA) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,046 shares of the aircraft producer’s stock after purchasing an additional 910 shares during the period. Cigna Investments Inc. New’s holdings in Boeing were worth $2,244,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in BA. Americana Partners LLC purchased a new position in Boeing in the fourth quarter valued at $26,000. Cordasco Financial Network purchased a new position in Boeing in the first quarter valued at $26,000. MBE Wealth Management LLC purchased a new position in Boeing in the first quarter valued at $26,000. Marquette Asset Management LLC boosted its holdings in Boeing by 316.7% in the first quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 152 shares during the period. Finally, Rocky Mountain Advisers LLC raised its stake in Boeing by 100.0% in the first quarter. Rocky Mountain Advisers LLC now owns 200 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.
BA has been the topic of a number of analyst reports. Canaccord Genuity cut their price target on Boeing from $175.00 to $155.00 and set a “hold” rating on the stock in a research note on Friday. Zacks Investment Research cut Boeing from a “hold” rating to a “sell” rating and set a $146.00 price target on the stock. in a research note on Friday, April 24th. Nord/LB cut Boeing from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Citigroup cut Boeing from a “buy” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research note on Monday, April 20th. Finally, Cowen restated a “hold” rating and issued a $150.00 price target on shares of Boeing in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $231.04.
BA stock traded down $1.47 during trading on Friday, hitting $137.53. The company had a trading volume of 21,072,749 shares, compared to its average volume of 33,287,024. Boeing Co has a 1-year low of $89.00 and a 1-year high of $391.00. The firm has a 50-day moving average price of $135.22 and a 200-day moving average price of $264.07. The firm has a market cap of $78.44 billion, a PE ratio of -22.69 and a beta of 1.45.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.04) by $0.34. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The company had revenue of $16.91 billion for the quarter, compared to analyst estimates of $16.90 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. As a group, research analysts forecast that Boeing Co will post -5.05 EPS for the current year.
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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