Wedgewood Investors Inc. PA increased its position in The Boeing Company (NYSE:BA) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,410 shares of the aircraft producer’s stock after purchasing an additional 80 shares during the quarter. Wedgewood Investors Inc. PA’s holdings in The Boeing were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. RBA Wealth Management LLC acquired a new stake in The Boeing during the 1st quarter valued at approximately $26,000. DB Wealth Management Group LLC bought a new position in shares of The Boeing during the fourth quarter worth about $28,000. Albion Financial Group UT acquired a new stake in The Boeing during the fourth quarter valued at approximately $30,000. Cowa LLC acquired a new position in shares of The Boeing in the 4th quarter worth approximately $32,000. Finally, Kathmere Capital Management LLC increased its stake in The Boeing by 188.7% during the fourth quarter. Kathmere Capital Management LLC now owns 153 shares of the aircraft producer’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. 51.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on BA. Royal Bank of Canada set a $307.00 target price on shares of The Boeing and gave the stock a “buy” rating in a report on Monday, January 4th. Canaccord Genuity upgraded shares of The Boeing from a “hold” rating to a “buy” rating and upped their price target for the stock from $200.00 to $275.00 in a research report on Thursday, March 11th. Credit Suisse Group reissued a “neutral” rating and set a $230.00 target price (down from $233.00) on shares of The Boeing in a research note on Thursday, April 29th. Nord/LB lowered shares of The Boeing from a “hold” rating to a “sell” rating in a research note on Thursday, January 28th. Finally, Zacks Investment Research cut The Boeing from a “hold” rating to a “sell” rating and set a $215.00 target price on the stock. in a research report on Tuesday, January 5th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The Boeing has a consensus rating of “Hold” and an average target price of $240.22.
BA traded down $8.17 on Tuesday, reaching $227.02. The company had a trading volume of 306,524 shares, compared to its average volume of 15,557,191. The company’s fifty day moving average is $248.23 and its 200 day moving average is $215.96. The Boeing Company has a fifty-two week low of $113.89 and a fifty-two week high of $278.57. The stock has a market cap of $132.76 billion, a P/E ratio of -29.81, a P/E/G ratio of 101.91 and a beta of 1.65.
The Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, April 27th. The aircraft producer reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.36). The company had revenue of $15.22 billion for the quarter, compared to the consensus estimate of $15.95 billion. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.70) earnings per share. Research analysts forecast that The Boeing Company will post -9.39 earnings per share for the current fiscal year.
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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