National Asset Management Inc. boosted its position in shares of The Boeing Company (NYSE:BA) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,327 shares of the aircraft producer’s stock after acquiring an additional 2,726 shares during the quarter. National Asset Management Inc.’s holdings in The Boeing were worth $4,187,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Loveless Wealth Management LLC boosted its stake in shares of The Boeing by 1.4% during the 2nd quarter. Loveless Wealth Management LLC now owns 4,360 shares of the aircraft producer’s stock worth $799,000 after acquiring an additional 60 shares during the last quarter. Curbstone Financial Management Corp lifted its position in The Boeing by 2.0% during the third quarter. Curbstone Financial Management Corp now owns 3,314 shares of the aircraft producer’s stock valued at $548,000 after purchasing an additional 64 shares in the last quarter. SignalPoint Asset Management LLC grew its holdings in The Boeing by 2.0% during the second quarter. SignalPoint Asset Management LLC now owns 3,381 shares of the aircraft producer’s stock valued at $620,000 after purchasing an additional 65 shares during the period. Cypress Capital Management LLC WY increased its position in The Boeing by 3.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,845 shares of the aircraft producer’s stock worth $338,000 after buying an additional 65 shares in the last quarter. Finally, Fusion Capital LLC increased its position in The Boeing by 4.4% in the third quarter. Fusion Capital LLC now owns 1,654 shares of the aircraft producer’s stock worth $273,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 52.57% of the company’s stock.
Shares of The Boeing stock traded down $0.80 during trading on Tuesday, hitting $201.60. The stock had a trading volume of 224,574 shares, compared to its average volume of 29,365,477. The Boeing Company has a 12 month low of $89.00 and a 12 month high of $375.60. The firm’s fifty day simple moving average is $164.70 and its 200-day simple moving average is $165.48. The stock has a market cap of $114.26 billion, a PE ratio of -25.65 and a beta of 1.39.
The Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 28th. The aircraft producer reported ($1.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.33) by $0.94. The Boeing had a negative net margin of 7.34% and a negative return on equity of 3.08%. Analysts forecast that The Boeing Company will post -9.22 earnings per share for the current year.
A number of research analysts recently issued reports on BA shares. Jefferies Financial Group reiterated a “buy” rating and set a $270.00 price objective on shares of The Boeing in a research note on Tuesday, August 11th. Morgan Stanley cut their target price on The Boeing from $181.00 to $165.00 and set an “underweight” rating for the company in a research report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $214.00 price target on shares of The Boeing in a report on Thursday, October 29th. UBS Group set a $150.00 price objective on shares of The Boeing and gave the company a “neutral” rating in a report on Wednesday, November 4th. Finally, Alembic Global Advisors upgraded shares of The Boeing from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $150.00 to $184.00 in a research report on Monday, September 28th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $203.64.
The 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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
Further Reading: Understanding Specialty Certificates of Deposit
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