CG Asset Management LLC Has $3,439,000 Stake in Boeing Co. (BA)
CG Asset Management LLC cut its position in Boeing Co. (NYSE:BA) by 4.5% during the second quarter, Holdings Channel reports. The firm owned 26,484 shares of the aircraft producer’s stock after selling 1,255 shares during the period. Boeing comprises about 1.4% of CG Asset Management LLC’s investment portfolio, making the stock its 21st largest position. CG Asset Management LLC’s holdings in Boeing were worth $3,439,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Tillar Wenstrup Advisors LLC boosted its stake in Boeing by 2.5% in the second quarter. Tillar Wenstrup Advisors LLC now owns 13,314 shares of the aircraft producer’s stock worth $1,729,000 after buying an additional 330 shares during the period. First National Trust Co. boosted its stake in Boeing by 3.3% in the second quarter. First National Trust Co. now owns 38,519 shares of the aircraft producer’s stock worth $5,002,000 after buying an additional 1,216 shares during the period. Agran Libbie raised its position in Boeing by 1.8% in the second quarter. Agran Libbie now owns 23,459 shares of the aircraft producer’s stock worth $3,047,000 after buying an additional 410 shares in the last quarter. Palouse Capital Management Inc. raised its position in Boeing by 23.4% in the second quarter. Palouse Capital Management Inc. now owns 56,183 shares of the aircraft producer’s stock worth $7,296,000 after buying an additional 10,646 shares in the last quarter. Finally, Aviance Capital Management LLC raised its position in Boeing by 6.5% in the second quarter. Aviance Capital Management LLC now owns 13,101 shares of the aircraft producer’s stock worth $1,701,000 after buying an additional 803 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors.
Shares of Boeing Co. (NYSE:BA) traded up 1.82% during midday trading on Wednesday, reaching $134.66. 3,137,532 shares of the company’s stock were exchanged. The company has a market cap of $84.00 billion, a price-to-earnings ratio of 24.24 and a beta of 1.03. Boeing Co. has a 12-month low of $102.10 and a 12-month high of $150.59. The stock’s 50 day moving average price is $131.42 and its 200 day moving average price is $131.13.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The business earned $24.80 million during the quarter, compared to analysts’ expectations of $23.22 million. During the same period last year, the company posted $1.62 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Boeing Co. will post $6.29 earnings per share for the current fiscal year.
A number of research firms recently weighed in on BA. Robert W. Baird began coverage on shares of Boeing in a research note on Wednesday. They issued an “outperform” rating for the company. Zacks Investment Research lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Group reiterated a “positive” rating and issued a $165.00 price objective on shares of Boeing in a research note on Friday, September 30th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $148.00 price objective on shares of Boeing in a research note on Friday, September 23rd. Finally, Citigroup Inc. reduced their price objective on shares of Boeing from $168.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $147.18.
In other Boeing news, 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 cost of $133.89 per share, with a total value of $250,508.19. Following the purchase, the director now directly owns 3,721 shares of the company’s stock, valued at approximately $498,204.69. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Diana L. Sands sold 14,151 shares of Boeing 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 disclosure for this sale can be found here. 0.58% of the stock is currently 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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