Nicholas Hoffman & Company LLC. raised its holdings in shares of Boeing Co (NYSE:BA) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,570 shares of the aircraft producer’s stock after purchasing an additional 109 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Boeing were worth $234,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BA. Wealth Quarterback LLC bought a new stake in Boeing during the fourth quarter valued at $9,702,310,000. Capital World Investors increased its stake in Boeing by 16.7% during the fourth quarter. Capital World Investors now owns 26,557,559 shares of the aircraft producer’s stock valued at $8,651,391,000 after purchasing an additional 3,799,008 shares during the last quarter. Capital Research Global Investors increased its stake in Boeing by 190.2% during the fourth quarter. Capital Research Global Investors now owns 4,118,742 shares of the aircraft producer’s stock valued at $1,341,721,000 after purchasing an additional 2,699,641 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Boeing by 586.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 675,145 shares of the aircraft producer’s stock valued at $219,935,000 after purchasing an additional 576,784 shares during the last quarter. Finally, Swiss National Bank increased its stake in Boeing by 23.1% during the first quarter. Swiss National Bank now owns 2,074,938 shares of the aircraft producer’s stock valued at $309,456,000 after purchasing an additional 389,300 shares during the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.
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 fifty-two week low of $89.00 and a fifty-two week high of $391.00. The firm has a market capitalization of $78.44 billion, a price-to-earnings ratio of -22.69 and a beta of 1.45. The business has a 50 day moving average of $135.22 and a 200 day moving average of $264.07.
Boeing (NYSE:BA) last issued its quarterly earnings results 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 net margin of 4.84% and a negative return on equity of 3.08%. The company had revenue of $16.91 billion during the quarter, compared to the consensus estimate of $16.90 billion. During the same period in the prior year, the company earned $3.16 EPS. Boeing’s revenue was down 26.2% on a year-over-year basis. As a group, equities analysts predict that Boeing Co will post -5.05 EPS for the current fiscal year.
BA has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $185.00 target price on shares of Boeing in a research note on Tuesday, March 24th. Argus upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Friday, March 27th. Zacks Investment Research lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $146.00 price target for the company. in a research report on Friday, April 24th. Nord/LB lowered shares of Boeing from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. Finally, Berenberg Bank restated a “neutral” rating and set a $150.00 price target (down previously from $350.00) on shares of Boeing in a research report on Tuesday, April 7th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $231.04.
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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