NorthRock Partners LLC decreased its holdings in Boeing Co (NYSE:BA) by 45.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,193 shares of the aircraft producer’s stock after selling 3,467 shares during the period. Boeing comprises approximately 0.5% of NorthRock Partners LLC’s investment portfolio, making the stock its 14th biggest holding. NorthRock Partners LLC’s holdings in Boeing were worth $1,408,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Kessler Investment Group LLC acquired a new position in shares of Boeing during the second quarter worth $1,726,000. Truewealth LLC increased its position in shares of Boeing by 17.7% during the second quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock worth $545,000 after purchasing an additional 244 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Boeing by 116.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 325,000 shares of the aircraft producer’s stock worth $109,041,000 after purchasing an additional 175,000 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its position in shares of Boeing by 163.3% during the second quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock worth $6,669,000 after purchasing an additional 12,327 shares in the last quarter. Finally, First National Trust Co increased its position in shares of Boeing by 5.6% during the second quarter. First National Trust Co now owns 26,840 shares of the aircraft producer’s stock worth $9,005,000 after purchasing an additional 1,432 shares in the last quarter. 69.77% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on BA. Cowen reaffirmed a “buy” rating and set a $445.00 price target on shares of Boeing in a research report on Monday, October 1st. Morgan Stanley set a $400.00 price target on Boeing and gave the stock a “hold” rating in a research report on Friday, September 28th. ValuEngine raised Boeing from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Jefferies Financial Group upped their price target on Boeing to $410.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $430.00 price target on shares of Boeing in a research report on Monday, September 3rd. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $401.25.
Shares of BA opened at $356.26 on Friday. The firm has a market cap of $206.45 billion, a PE ratio of 24.80, a P/E/G ratio of 1.79 and a beta of 1.40. The company has a debt-to-equity ratio of -7.65, a quick ratio of 0.32 and a current ratio of 1.11. Boeing Co has a 1-year low of $254.50 and a 1-year high of $394.28.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The company had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. Boeing’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. Sell-side analysts anticipate that Boeing Co will post 14.58 EPS for the current fiscal 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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