Grandfield & Dodd LLC Maintains Position in Boeing Co. (BA)
Grandfield & Dodd LLC continued to hold its position in shares of Boeing Co. (NYSE:BA) during the second quarter, Holdings Channel reports. The fund owned 2,543 shares of the aircraft producer’s stock at the end of the second quarter. Grandfield & Dodd LLC’s holdings in Boeing were worth $330,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in BA. Loomis Sayles & Co. L P raised its position in Boeing by 82.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,513 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 682 shares during the period. CWM LLC raised its position in Boeing by 23.6% in the second quarter. CWM LLC now owns 1,477 shares of the aircraft producer’s stock valued at $192,000 after buying an additional 282 shares during the period. Maryland Capital Management acquired a new position in Boeing during the first quarter valued at $203,000. Benjamin F. Edwards & Company Inc. raised its position in Boeing by 19.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,708 shares of the aircraft producer’s stock valued at $222,000 after buying an additional 275 shares during the period. Finally, Evanson Asset Management LLC raised its position in Boeing by 2.4% in the second quarter. Evanson Asset Management LLC now owns 1,719 shares of the aircraft producer’s stock valued at $223,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Shares of Boeing Co. (NYSE:BA) traded down 0.18% on Thursday, reaching $134.42. The company had a trading volume of 3,614,860 shares. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The firm has a market capitalization of $83.85 billion, a price-to-earnings ratio of 24.20 and a beta of 1.03. The company’s 50-day moving average price is $131.42 and its 200-day moving average price is $131.13.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.48. Boeing had a return on equity of 82.66% and a net margin of 3.84%. The company had revenue of $24.80 million for the quarter, compared to analysts’ expectations of $23.22 million. During the same quarter in the prior year, the business posted $1.62 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Boeing Co. will post $6.29 earnings per share for the current year.
BA has been the subject of several research reports. Jefferies Group restated a “buy” rating and set a $133.53 price objective (down previously from $165.00) on shares of Boeing in a research report on Friday, July 22nd. Drexel Hamilton restated a “buy” rating and set a $158.00 price objective on shares of Boeing in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price objective on shares of Boeing in a research note on Monday, June 20th. Argus reaffirmed a “buy” rating and set a $155.00 price objective on shares of Boeing in a research note on Wednesday, August 3rd. 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 investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $147.94.
In related news, SVP Diana L. Sands sold 14,151 shares of the business’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 transaction of $1,882,932.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Randall L. Stephenson bought 1,871 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the completion of the acquisition, the director now directly 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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