Perigon Wealth Management LLC boosted its position in Boeing Co (NYSE:BA) by 19.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,166 shares of the aircraft producer’s stock after buying an additional 686 shares during the quarter. Perigon Wealth Management LLC’s holdings in Boeing were worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of BA. Elmwood Wealth Management Inc. purchased a new stake in Boeing during the 1st quarter worth about $31,000. NuWave Investment Management LLC purchased a new stake in shares of Boeing in the second quarter worth $30,000. Cordasco Financial Network purchased a new position in Boeing during the first quarter worth about $26,000. MBE Wealth Management LLC bought a new position in Boeing in the 1st quarter worth about $26,000. Finally, Marquette Asset Management LLC boosted its position in shares of Boeing by 316.7% during the 1st quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock valued at $30,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.
Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of 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 lowered Boeing from a “hold” rating to a “sell” rating and set a $146.00 price target for the company. in a research note on Friday, April 24th. TheStreet lowered Boeing from a “c-” rating to a “d” rating in a research report on Wednesday, April 29th. Wolfe Research lowered Boeing from a “peer perform” rating to an “underperform” rating and set a $149.00 target price for the company. in a research note on Thursday, July 16th. Finally, Cowen reiterated a “hold” rating on shares of Boeing in a research report on Sunday, June 7th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Boeing presently has an average rating of “Hold” and a consensus target price of $217.38.
NYSE BA opened at $158.00 on Friday. The firm has a market capitalization of $89.18 billion, a PE ratio of -31.29 and a beta of 1.47. The stock’s 50 day moving average is $180.12 and its 200 day moving average is $204.01. Boeing Co has a twelve month low of $89.00 and a twelve month high of $391.00.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.93) by ($1.86). The business had revenue of $11.81 billion for the quarter, compared to the consensus estimate of $12.95 billion. Boeing had a negative net margin of 4.27% and a negative return on equity of 3.08%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($5.82) EPS. On average, research analysts predict that Boeing Co will post -6.26 EPS for the current year.
Boeing Company Profile
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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