Pflug Koory LLC Increases Stake in Boeing Co (NYSE:BA)
Pflug Koory LLC boosted its stake in Boeing Co (NYSE:BA) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,398 shares of the aircraft producer’s stock after acquiring an additional 30 shares during the period. Boeing accounts for 1.6% of Pflug Koory LLC’s portfolio, making the stock its 9th biggest position. Pflug Koory LLC’s holdings in Boeing were worth $2,054,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its stake in Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 61 shares during the period. Nordea Investment Management AB lifted its stake in Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 41 shares during the period. Guidant Wealth Advisors acquired a new position in Boeing in the second quarter valued at approximately $28,000. Atwater Malick LLC acquired a new position in Boeing in the third quarter valued at approximately $39,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Boeing in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 67.88% of the company’s stock.
Several equities analysts have issued reports on BA shares. Cowen set a $460.00 price target on Boeing and gave the company a “buy” rating in a research note on Friday. Credit Suisse Group reaffirmed a “buy” rating and set a $425.00 target price on shares of Boeing in a research report on Thursday, July 25th. Barclays set a $367.00 target price on Boeing and gave the stock a “hold” rating in a research report on Tuesday, September 10th. ValuEngine lowered Boeing from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group lowered their target price on Boeing from $448.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $403.10.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $1.07. The business had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.33 EPS. Sell-side analysts forecast that Boeing Co will post 3.46 EPS for the current 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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