IFM Investors Pty Ltd raised its holdings in shares of The Boeing Company (NYSE:BA) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,582 shares of the aircraft producer’s stock after buying an additional 5,171 shares during the quarter. IFM Investors Pty Ltd’s holdings in The Boeing were worth $5,880,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. NuWave Investment Management LLC bought a new stake in The Boeing during the second quarter worth about $30,000. Hall Laurie J Trustee bought a new stake in The Boeing during the third quarter worth about $33,000. Laidlaw Wealth Management LLC lifted its stake in The Boeing by 84,338.8% during the second quarter. Laidlaw Wealth Management LLC now owns 6,738,216 shares of the aircraft producer’s stock worth $36,000 after purchasing an additional 6,730,236 shares during the last quarter. Pacific Center for Financial Services lifted its stake in The Boeing by 100.0% during the second quarter. Pacific Center for Financial Services now owns 200 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 100 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. lifted its stake in The Boeing by 79.5% during the third quarter. Riggs Asset Managment Co. Inc. now owns 569 shares of the aircraft producer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 52.57% of the company’s stock.
Shares of The Boeing stock traded up $3.11 during midday trading on Friday, hitting $167.35. The company had a trading volume of 31,780,625 shares, compared to its average volume of 30,388,395. The stock has a market capitalization of $94.46 billion, a P/E ratio of -33.14 and a beta of 1.37. The company has a 50 day moving average of $164.97 and a 200 day moving average of $162.27. The Boeing Company has a 52-week low of $89.00 and a 52-week high of $375.60.
The Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the consensus estimate of ($2.93) by ($1.86). The company had revenue of $11.81 billion during the quarter, compared to analysts’ expectations of $12.95 billion. The Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($5.82) EPS. As a group, equities analysts expect that The Boeing Company will post -10.44 earnings per share for the current fiscal year.
In related news, Director Steven M. Mollenkopf purchased 1,152 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $173.36 per share, for a total transaction of $199,710.72. Following the purchase, the director now directly owns 1,152 shares of the company’s stock, valued at approximately $199,710.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
Several brokerages have issued reports on BA. UBS Group set a $150.00 price target on The Boeing and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. Jefferies Financial Group reissued a “buy” rating and issued a $270.00 target price on shares of The Boeing in a research note on Tuesday, August 11th. Canaccord Genuity reissued a “hold” rating and issued a $155.00 target price on shares of The Boeing in a research note on Monday, July 20th. Goldman Sachs Group set a $225.00 target price on The Boeing and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued a “buy” rating on shares of The Boeing in a research note on Tuesday, October 13th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $206.82.
About The Boeing
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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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