Intersect Capital LLC Purchases 986 Shares of Boeing Co. (BA)
Intersect Capital LLC boosted its stake in shares of Boeing Co. (NYSE:BA) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,965 shares of the aircraft producer’s stock after buying an additional 986 shares during the period. Intersect Capital LLC’s holdings in Boeing were worth $1,034,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in BA. Panagora Asset Management Inc. raised its position in Boeing by 23.3% in the first quarter. Panagora Asset Management Inc. now owns 1,139,382 shares of the aircraft producer’s stock valued at $144,633,000 after buying an additional 215,276 shares during the last quarter. Rothschild Investment Corp IL raised its position in Boeing by 2.6% in the second quarter. Rothschild Investment Corp IL now owns 90,321 shares of the aircraft producer’s stock valued at $11,730,000 after buying an additional 2,250 shares during the last quarter. First Quadrant L P CA raised its position in Boeing by 991.8% in the second quarter. First Quadrant L P CA now owns 133,200 shares of the aircraft producer’s stock valued at $17,299,000 after buying an additional 121,000 shares during the last quarter. Scopia Capital Management LP bought a new position in Boeing during the first quarter valued at about $38,707,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Boeing during the first quarter valued at about $76,827,000. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.930% during mid-day trading on Wednesday, reaching $128.978. The company’s stock had a trading volume of 1,215,404 shares. The stock has a 50-day moving average price of $131.68 and a 200-day moving average price of $130.71. The company has a market capitalization of $80.46 billion, a price-to-earnings ratio of 23.218 and a beta of 1.06. Boeing Co. has a one year low of $102.10 and a one year high of $150.59.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.48. The business had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. Equities research analysts forecast that Boeing Co. will post $6.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 12th were issued a dividend of $1.09 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $4.36 annualized dividend and a dividend yield of 3.41%. Boeing’s dividend payout ratio is presently 80.15%.
Several equities analysts recently issued reports on BA shares. Goldman Sachs Group Inc. set a $107.00 price target on Boeing and gave the stock a “sell” rating in a research report on Tuesday, August 30th. Vetr lowered Boeing from a “hold” rating to a “sell” rating and set a $126.07 price objective on the stock. in a research report on Wednesday, August 24th. Jefferies Group reiterated a “buy” rating and issued a $133.53 price objective (down from $165.00) on shares of Boeing in a research report on Friday, July 22nd. JPMorgan Chase & Co. set a $140.00 price objective on Boeing and gave the stock a “neutral” rating in a research report on Monday, July 4th. Finally, Citigroup Inc. cut their price objective on Boeing from $168.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $147.23.
In other news, SVP Diana L. Sands sold 14,151 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $133.06, for a total transaction of $1,882,932.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Randall L. Stephenson acquired 1,871 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $133.89 per share, with a total value of $250,508.19. Following the acquisition, the director now owns 3,721 shares in the company, valued at approximately $498,204.69. The disclosure for this purchase can be found here. Insiders own 0.58% of the company’s stock.
Boeing Company Profile
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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