Boeing Co (NYSE:BA) Stake Lifted by Optimum Investment Advisors
Optimum Investment Advisors raised its stake in Boeing Co (NYSE:BA) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,632 shares of the aircraft producer's stock after acquiring an additional 265 shares during the quarter. Boeing makes up 1.5% of Optimum Investment Advisors' holdings, making the stock its 8th biggest position. Optimum Investment Advisors' holdings in Boeing were worth $4,806,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Boeing by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 40,214,155 shares of the aircraft producer's stock valued at $14,638,355,000 after buying an additional 275,250 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Boeing by 7.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer's stock valued at $13,009,918,000 after buying an additional 2,607,364 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Boeing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 34,081,637 shares of the aircraft producer's stock valued at $12,406,056,000 after buying an additional 264,410 shares in the last quarter. Newport Trust Co lifted its stake in shares of Boeing by 1.0% during the 2nd quarter. Newport Trust Co now owns 30,669,091 shares of the aircraft producer's stock valued at $11,163,856,000 after buying an additional 298,466 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of Boeing by 36,928.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 6,235,551 shares of the aircraft producer's stock valued at $623,555,000 after buying an additional 6,218,711 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company's stock.
A number of analysts recently commented on BA shares. Robert W. Baird restated an "outperform" rating and set a $445.00 price target (down from $470.00) on shares of Boeing in a research note on Wednesday, October 2nd. They noted that the move was a valuation call. Canaccord Genuity set a $380.00 target price on shares of Boeing and gave the stock a "hold" rating in a report on Friday, July 19th. Berenberg Bank set a $440.00 target price on shares of Boeing and gave the stock a "buy" rating in a report on Friday, October 11th. Goldman Sachs Group reaffirmed a "neutral" rating and set a $375.00 target price on shares of Boeing in a report on Friday, July 12th. Finally, ValuEngine lowered shares of Boeing from a "buy" rating to a "hold" rating in a report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. Boeing presently has an average rating of "Hold" and an average target price of $402.42.
Shares of Boeing stock traded down $18.03 during trading on Friday, reaching $351.03. The company's stock had a trading volume of 6,336,783 shares, compared to its average volume of 3,299,753. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01. The company has a market cap of $208.74 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 12.28 and a beta of 1.25. The firm's 50-day moving average is $373.34 and its two-hundred day moving average is $362.59. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company had revenue of $15.75 billion during the quarter, compared to analysts' expectations of $15.05 billion. During the same quarter in the prior year, the company earned $3.33 EPS. The firm's revenue was down 35.1% on a year-over-year basis. On average, equities research analysts anticipate that Boeing Co will post 3.38 EPS for the current 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.
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