Trexquant Investment LP purchased a new position in shares of Boeing Co (NYSE:BA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,438 shares of the aircraft producer’s stock, valued at approximately $2,302,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Firestone Capital Management purchased a new stake in Boeing in the 4th quarter valued at about $416,000. Americana Partners LLC purchased a new stake in Boeing in the 4th quarter valued at about $26,000. Great Diamond Partners LLC purchased a new stake in Boeing in the 4th quarter valued at about $33,000. Savior LLC purchased a new stake in Boeing in the 4th quarter valued at about $36,000. Finally, Permanens Capital L.P. raised its holdings in Boeing by 112.1% in the 4th quarter. Permanens Capital L.P. now owns 123 shares of the aircraft producer’s stock valued at $40,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 65.59% of the company’s stock.
Shares of Boeing stock opened at $137.53 on Friday. The business has a 50-day simple moving average of $135.22 and a 200-day simple moving average of $264.07. The company has a market cap of $78.44 billion, a PE ratio of -22.69 and a beta of 1.45. Boeing Co has a one year low of $89.00 and a one year high of $391.00.
Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.04) by $0.34. The firm had revenue of $16.91 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 26.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.16 earnings per share. On average, analysts forecast that Boeing Co will post -5.05 EPS for the current year.
BA has been the topic of several research analyst reports. Goldman Sachs Group restated a “positive” rating on shares of Boeing in a report on Thursday, April 30th. Norddeutsche Landesbank lowered shares of Boeing to a “sell” rating and set a $110.00 price objective on the stock. in a report on Tuesday, May 5th. Cowen reiterated a “hold” rating and set a $150.00 price target on shares of Boeing in a research note on Tuesday, May 12th. TheStreet lowered shares of Boeing from a “c-” rating to a “d” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity cut their price target on shares of Boeing from $175.00 to $155.00 and set a “hold” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus 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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