Carnegie Capital Asset Management LLC trimmed its holdings in Boeing Co (NYSE:BA) by 86.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,399 shares of the aircraft producer’s stock after selling 41,455 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Boeing were worth $956,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Americana Partners LLC purchased a new position in Boeing during the fourth quarter worth approximately $26,000. Cordasco Financial Network purchased a new stake in Boeing during the 1st quarter worth $26,000. MBE Wealth Management LLC purchased a new stake in Boeing during the 1st quarter worth $26,000. Marquette Asset Management LLC increased its stake in Boeing by 316.7% during the 1st quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after buying an additional 152 shares during the period. Finally, Rocky Mountain Advisers LLC grew its holdings in Boeing by 100.0% during the 1st quarter. Rocky Mountain Advisers LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. 65.59% of the stock is owned by institutional investors and hedge funds.
BA stock opened at $141.66 on Friday. Boeing Co has a 52 week low of $89.00 and a 52 week high of $391.00. The company has a market capitalization of $75.24 billion, a price-to-earnings ratio of -23.27 and a beta of 1.45. The firm’s 50-day moving average is $135.42 and its two-hundred day moving average is $265.07.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.34. Boeing had a negative net margin of 4.84% and a negative return on equity of 3.08%. The company had revenue of $16.91 billion for the quarter, compared to the consensus estimate of $16.90 billion. During the same period in the previous year, the firm earned $3.16 EPS. Boeing’s revenue was down 26.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Boeing Co will post -5.05 EPS for the current year.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Boeing from a “hold” rating to a “sell” rating and set a $146.00 price objective for the company. in a report on Friday, April 24th. Cowen reissued a “hold” rating and set a $150.00 price objective on shares of Boeing in a report on Tuesday, May 12th. Argus raised shares of Boeing from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Friday, March 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target on shares of Boeing in a report on Tuesday, March 24th. Finally, Canaccord Genuity decreased their price target on shares of Boeing from $175.00 to $155.00 and set a “hold” rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $231.04.
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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