Commerce Bank trimmed its holdings in shares of Boeing Co (NYSE:BA) by 26.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,714 shares of the aircraft producer’s stock after selling 49,300 shares during the quarter. Commerce Bank’s holdings in Boeing were worth $20,240,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Trexquant Investment LP purchased a new position in Boeing in the first quarter worth $2,302,000. Capital Analysts LLC raised its stake in Boeing by 619.0% in the first quarter. Capital Analysts LLC now owns 870 shares of the aircraft producer’s stock valued at $130,000 after purchasing an additional 749 shares in the last quarter. 20 20 Capital Management Inc. grew its stake in Boeing by 142.8% in the 1st quarter. 20 20 Capital Management Inc. now owns 2,481 shares of the aircraft producer’s stock worth $319,000 after buying an additional 1,459 shares in the last quarter. Callan Capital LLC purchased a new position in Boeing in the 1st quarter worth approximately $377,000. Finally, Fiera Capital Corp increased its holdings in shares of Boeing by 42.6% in the 1st quarter. Fiera Capital Corp now owns 8,423 shares of the aircraft producer’s stock worth $1,256,000 after buying an additional 2,515 shares during the last quarter. Institutional investors and hedge funds own 65.59% of the company’s stock.
A number of analysts have recently issued reports on BA shares. Goldman Sachs Group reiterated a “positive” rating on shares of Boeing in a research report on Thursday, April 30th. Barclays reiterated a “neutral” rating and issued a $125.00 price objective on shares of Boeing in a report on Friday, May 1st. UBS Group reduced their price objective on Boeing from $284.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Zacks Investment Research downgraded Boeing from a “hold” rating to a “sell” rating and set a $146.00 target price for the company. in a research report on Friday, April 24th. Finally, Buckingham Research increased their price target on shares of Boeing from $308.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. Boeing presently has an average rating of “Hold” and a consensus price target of $231.04.
Shares of BA stock traded down $2.46 during trading hours on Friday, reaching $136.54. The company’s stock had a trading volume of 4,118,004 shares, compared to its average volume of 32,170,650. The stock has a market capitalization of $75.24 billion, a P/E ratio of -23.27 and a beta of 1.45. Boeing Co has a one year low of $89.00 and a one year high of $391.00. The firm’s fifty day simple moving average is $135.42 and its 200 day simple moving average is $265.07.
Boeing (NYSE:BA) last announced 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. The company had revenue of $16.91 billion during the quarter, compared to analyst estimates of $16.90 billion. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The firm’s revenue was down 26.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.16 earnings per share. Analysts expect that Boeing Co will post -5.05 earnings per share 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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