Boeing Co. (BA) Shares Bought by First National Trust Co.
First National Trust Co. boosted its stake in shares of Boeing Co. (NYSE:BA) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 38,519 shares of the aircraft producer’s stock after buying an additional 1,216 shares during the period. First National Trust Co.’s holdings in Boeing were worth $5,002,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in Boeing during the second quarter worth $316,346,000. Franklin Resources Inc. raised its position in Boeing by 67.9% in the first quarter. Franklin Resources Inc. now owns 4,906,313 shares of the aircraft producer’s stock worth $622,808,000 after buying an additional 1,984,650 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Boeing during the first quarter worth $76,827,000. Scopia Capital Management LP bought a new position in Boeing during the first quarter worth $38,707,000. Finally, Geode Capital Management LLC raised its position in Boeing by 5.8% in the first quarter. Geode Capital Management LLC now owns 5,524,347 shares of the aircraft producer’s stock worth $699,957,000 after buying an additional 304,674 shares during the period. 75.46% of the stock is owned by institutional investors and hedge funds.
Shares of Boeing Co. (NYSE:BA) traded down 0.10% during trading on Tuesday, reaching $132.25. The company’s stock had a trading volume of 2,829,188 shares. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The firm’s 50-day moving average is $131.43 and its 200 day moving average is $131.10. The company has a market cap of $82.50 billion, a PE ratio of 23.81 and a beta of 1.03.
Boeing (NYSE:BA) last released its quarterly earnings data 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 firm had revenue of $24.80 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. On average, equities research analysts predict that Boeing Co. will post $6.29 EPS for the current fiscal year.
Several brokerages recently issued reports on BA. Zacks Investment Research downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Group reissued a “positive” rating and issued a $165.00 price objective on shares of Boeing in a research note on Friday. Credit Suisse Group AG reissued a “neutral” rating and issued a $148.00 price objective on shares of Boeing in a research note on Friday, September 23rd. Citigroup Inc. reduced their price objective on Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, September 19th. Finally, Vetr raised Boeing from a “sell” rating to a “hold” rating and set a $126.07 price objective for the company in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $147.18.
In other Boeing news, SVP Diana L. Sands sold 14,151 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $133.06, for a total value of $1,882,932.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Randall L. Stephenson acquired 1,871 shares of the company’s stock in a transaction on Monday, August 1st. The stock was acquired at an average price of $133.89 per share, for a total transaction of $250,508.19. Following the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at $498,204.69. The disclosure for this purchase can be found here. 0.58% of the stock is owned by company insiders.
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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