Sanders Morris Harris LLC Takes $248,000 Position in Boeing Co (NYSE:BA)

Sanders Morris Harris LLC purchased a new position in shares of Boeing Co (NYSE:BA) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,370 shares of the aircraft producer’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Altavista Wealth Management Inc. lifted its stake in shares of Boeing by 5.2% in the 4th quarter. Altavista Wealth Management Inc. now owns 632 shares of the aircraft producer’s stock valued at $206,000 after purchasing an additional 31 shares in the last quarter. Probity Advisors Inc. lifted its stake in shares of Boeing by 5.2% in the 4th quarter. Probity Advisors Inc. now owns 912 shares of the aircraft producer’s stock valued at $297,000 after purchasing an additional 45 shares in the last quarter. Pacitti Group Inc. lifted its stake in shares of Boeing by 10.2% in the 4th quarter. Pacitti Group Inc. now owns 618 shares of the aircraft producer’s stock valued at $201,000 after purchasing an additional 57 shares in the last quarter. Mairs & Power INC raised its holdings in shares of Boeing by 1.6% during the 4th quarter. Mairs & Power INC now owns 3,617 shares of the aircraft producer’s stock valued at $1,178,000 after buying an additional 57 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Boeing by 0.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 8,751 shares of the aircraft producer’s stock valued at $1,305,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 61.88% of the company’s stock.

Shares of BA traded down $4.35 during mid-day trading on Thursday, hitting $175.73. The stock had a trading volume of 162,993 shares, compared to its average volume of 60,465,848. The company has a market cap of $101.62 billion, a PE ratio of -29.20 and a beta of 1.47. The company’s fifty day simple moving average is $174.46 and its two-hundred day simple moving average is $221.88. Boeing Co has a fifty-two week low of $89.00 and a fifty-two week high of $391.00.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.34. The company had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.90 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The business’s revenue was down 26.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 EPS. On average, equities analysts anticipate that Boeing Co will post -6.08 earnings per share for the current year.

Several brokerages recently commented on BA. UBS Group dropped their target price on Boeing from $284.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Benchmark reiterated a “market perform” rating and set a $180.00 target price on shares of Boeing in a report on Monday, May 11th. Robert W. Baird dropped their target price on Boeing from $322.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. ValuEngine downgraded Boeing from a “strong-buy” rating to a “buy” rating in a report on Friday, May 1st. Finally, Cfra upgraded Boeing to a “buy” rating in a report on Wednesday, May 27th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. Boeing currently has a consensus rating of “Hold” and a consensus target price of $228.46.

Boeing Profile

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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