King Luther Capital Management Corp lessened its stake in shares of Boeing Co (NYSE:BA) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,943 shares of the aircraft producer’s stock after selling 257 shares during the period. King Luther Capital Management Corp’s holdings in Boeing were worth $5,685,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. CSat Investment Advisory L.P. bought a new stake in shares of Boeing in the second quarter valued at approximately $101,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Boeing by 220.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock valued at $105,000 after acquiring an additional 220 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in shares of Boeing in the first quarter valued at approximately $108,000. Icon Wealth Partners LLC bought a new stake in shares of Boeing in the second quarter valued at approximately $125,000. Finally, Lucia Wealth Services LLC bought a new stake in shares of Boeing in the first quarter valued at approximately $126,000. Institutional investors own 69.77% of the company’s stock.
BA has been the subject of several research reports. Canaccord Genuity reissued a “hold” rating and issued a $350.00 price objective on shares of Boeing in a research report on Tuesday, July 24th. Jefferies Financial Group increased their price objective on Boeing to $410.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Cowen reissued a “buy” rating and issued a $430.00 price objective on shares of Boeing in a research report on Friday, July 13th. ValuEngine cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $450.00 target price on shares of Boeing in a research report on Monday, August 13th. Six investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $401.25.
Shares of BA stock opened at $356.26 on Friday. The firm has a market capitalization of $206.45 billion, a P/E ratio of 24.80, a PEG ratio of 1.79 and a beta of 1.40. Boeing Co has a one year low of $254.50 and a one year high of $394.28. The company has a debt-to-equity ratio of -7.65, a current ratio of 1.11 and a quick ratio of 0.32.
Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). The company had revenue of $24.26 billion for the quarter, compared to the consensus estimate of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 earnings per share. As a group, sell-side analysts predict that Boeing Co will post 14.58 earnings per share for the current fiscal 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.
Further Reading: Do You Need a Fiduciary?
Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).
Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.