Boeing Co (BA) Position Boosted by Anchor Capital Advisors LLC
Anchor Capital Advisors LLC increased its holdings in Boeing Co (NYSE:BA) by 4.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,838 shares of the aircraft producer’s stock after purchasing an additional 153 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Boeing were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the stock. Kessler Investment Group LLC bought a new position in Boeing during the 2nd quarter valued at $1,726,000. Truewealth LLC boosted its stake in Boeing by 17.7% during the 2nd quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock valued at $545,000 after purchasing an additional 244 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Boeing by 5.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 62,862 shares of the aircraft producer’s stock valued at $20,611,000 after purchasing an additional 3,035 shares in the last quarter. Mckinley Capital Management LLC Delaware boosted its stake in Boeing by 163.3% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock valued at $6,669,000 after purchasing an additional 12,327 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Boeing by 5.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,216,909 shares of the aircraft producer’s stock valued at $399,000,000 after purchasing an additional 62,608 shares in the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Robert W. Baird reaffirmed a “buy” rating and set a $450.00 price target on shares of Boeing in a research note on Monday, August 13th. Cowen reiterated a “buy” rating and set a $430.00 price objective on shares of Boeing in a research report on Wednesday, July 25th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $400.00 price objective on shares of Boeing in a research report on Thursday, July 26th. Finally, Zacks Investment Research downgraded Boeing from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 12th. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $400.60.
Boeing (NYSE:BA) last released its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). The business had revenue of $24.26 billion during the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. Boeing’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 EPS. sell-side analysts anticipate that Boeing Co will post 14.6 EPS for the current fiscal year.
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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