Boeing (BA) Shares Sold by Heritage Investors Management Corp
Heritage Investors Management Corp cut its stake in Boeing (NYSE:BA) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,367 shares of the aircraft producer’s stock after selling 5,713 shares during the period. Boeing makes up about 1.6% of Heritage Investors Management Corp’s holdings, making the stock its 10th largest holding. Heritage Investors Management Corp’s holdings in Boeing were worth $27,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of BA. Oakmont Corp grew its position in Boeing by 232.7% in the fourth quarter. Oakmont Corp now owns 312,368 shares of the aircraft producer’s stock worth $92,120,000 after acquiring an additional 218,489 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Boeing by 2.2% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 6,821 shares of the aircraft producer’s stock worth $2,012,000 after acquiring an additional 146 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new position in Boeing in the fourth quarter worth approximately $489,000. Ffcm LLC grew its position in Boeing by 23.4% in the fourth quarter. Ffcm LLC now owns 39,156 shares of the aircraft producer’s stock worth $11,548,000 after acquiring an additional 7,420 shares during the period. Finally, IBM Retirement Fund boosted its position in shares of Boeing by 5.3% during the fourth quarter. IBM Retirement Fund now owns 14,556 shares of the aircraft producer’s stock worth $4,687,000 after buying an additional 735 shares during the period. Institutional investors and hedge funds own 70.84% of the company’s stock.
In other Boeing news, CFO Gregory D. Smith sold 36,079 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $337.43, for a total value of $12,174,136.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a negative return on equity of 11,050.62% and a net margin of 8.78%. The company had revenue of $25.37 billion for the quarter, compared to analysts’ expectations of $24.78 billion. During the same period last year, the firm earned $2.47 earnings per share. Boeing’s quarterly revenue was up 8.9% on a year-over-year basis. analysts anticipate that Boeing will post 14.05 earnings per share for the current fiscal year.
Several research firms have recently commented on BA. Morgan Stanley upgraded Boeing to an “equal weight” rating in a research report on Tuesday. Vetr lowered Boeing from a “strong-buy” rating to a “buy” rating and set a $368.72 price target for the company. in a research report on Tuesday, April 10th. JPMorgan Chase restated a “buy” rating and set a $400.00 price target on shares of Boeing in a research report on Friday. Royal Bank of Canada restated a “hold” rating and set a $358.00 price target (down from $378.00) on shares of Boeing in a research report on Friday, April 6th. Finally, Cowen restated a “buy” rating and set a $415.00 price target on shares of Boeing in a research report on Tuesday, April 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Boeing presently has an average rating of “Buy” and a consensus price target of $365.55.
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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.
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