Cubist Systematic Strategies LLC decreased its position in Boeing Co (NYSE:BA) by 82.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,076 shares of the aircraft producer’s stock after selling 5,024 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Boeing were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in BA. Argent Trust Co raised its holdings in shares of Boeing by 5.1% in the 4th quarter. Argent Trust Co now owns 5,625 shares of the aircraft producer’s stock worth $1,659,000 after purchasing an additional 271 shares during the period. Financial Gravity Wealth Inc. purchased a new position in Boeing in the 1st quarter valued at approximately $463,000. Stevens Capital Management LP purchased a new position in Boeing in the 1st quarter valued at approximately $25,377,000. Neuberger Berman Group LLC grew its stake in Boeing by 4.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,534,824 shares of the aircraft producer’s stock valued at $503,263,000 after buying an additional 63,408 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in Boeing by 4.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 12,175 shares of the aircraft producer’s stock valued at $3,992,000 after buying an additional 505 shares in the last quarter. 69.77% of the stock is owned by hedge funds and other institutional investors.
BA has been the subject of a number of recent research reports. Credit Suisse Group reiterated a “buy” rating and issued a $455.00 price objective on shares of Boeing in a research note on Thursday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research note on Thursday, July 26th. Berenberg Bank reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a research note on Monday, September 3rd. UBS Group initiated coverage on shares of Boeing in a research note on Wednesday, August 15th. They issued a “buy” rating and a $515.00 price objective for the company. Finally, Robert W. Baird reiterated a “buy” rating and issued a $450.00 price objective on shares of Boeing in a research note on Monday, August 13th. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $401.25.
BA opened at $356.26 on Monday. The firm has a market cap of $204.67 billion, a PE ratio of 29.59, a PEG ratio of 1.78 and a beta of 1.40. The company has a quick ratio of 0.32, a current ratio of 1.11 and a debt-to-equity ratio of -7.65. Boeing Co has a one year low of $254.50 and a one year high of $394.28.
Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The firm 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%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.55 earnings per share. Sell-side analysts forecast 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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