M&T Bank Corp trimmed its stake in Boeing Co (NYSE:BA) by 21.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,036 shares of the aircraft producer’s stock after selling 28,629 shares during the period. M&T Bank Corp’s holdings in Boeing were worth $18,885,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors grew its holdings in Boeing by 15.1% during the 1st quarter. Capital World Investors now owns 30,555,090 shares of the aircraft producer’s stock worth $4,556,991,000 after acquiring an additional 3,997,531 shares in the last quarter. Capital International Investors grew its holdings in Boeing by 7.7% during the 1st quarter. Capital International Investors now owns 10,734,838 shares of the aircraft producer’s stock worth $1,600,997,000 after acquiring an additional 769,205 shares in the last quarter. Geode Capital Management LLC grew its holdings in Boeing by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 7,206,451 shares of the aircraft producer’s stock worth $1,072,353,000 after acquiring an additional 27,011 shares in the last quarter. Public Investment Fund acquired a new position in Boeing during the 1st quarter worth approximately $713,677,000. Finally, Bank of New York Mellon Corp grew its holdings in Boeing by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,111,633 shares of the aircraft producer’s stock worth $613,210,000 after acquiring an additional 111,698 shares in the last quarter. 61.66% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boeing stock opened at $158.00 on Friday. The company has a market cap of $89.18 billion, a P/E ratio of -31.29 and a beta of 1.47. Boeing Co has a one year low of $89.00 and a one year high of $391.00. The firm has a fifty day moving average of $180.12 and a two-hundred day moving average of $204.01.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 29th. The aircraft producer reported ($4.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.93) by ($1.86). The firm had revenue of $11.81 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($5.82) EPS. As a group, equities analysts anticipate that Boeing Co will post -6.26 EPS for the current year.
Several research analysts have commented on BA shares. Citigroup cut shares of Boeing from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a report on Monday, April 20th. Barclays restated a “neutral” rating and issued a $125.00 target price on shares of Boeing in a report on Friday, May 1st. Berenberg Bank set a $150.00 target price on shares of Boeing and gave the company a “sell” rating in a report on Thursday, June 25th. Royal Bank of Canada upped their target price on shares of Boeing from $164.00 to $194.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and set a $165.00 target price for the company. in a report on Friday, June 26th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $217.38.
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.
Further Reading: What are the benefits of investing in REITs?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.