KG&L Capital Management LLC raised its position in shares of Boeing Co (NYSE:BA) by 20.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,138 shares of the aircraft producer’s stock after purchasing an additional 535 shares during the period. Boeing makes up approximately 1.1% of KG&L Capital Management LLC’s holdings, making the stock its 23rd largest holding. KG&L Capital Management LLC’s holdings in Boeing were worth $1,193,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. NuWave Investment Management LLC increased its holdings in shares of Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after buying an additional 61 shares during the period. Nordea Investment Management AB increased its holdings in shares of Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after buying an additional 41 shares during the period. Guidant Wealth Advisors purchased a new position in shares of Boeing in the second quarter worth about $28,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Boeing in the second quarter worth about $40,000. Finally, Next Capital Management LLC purchased a new position in shares of Boeing in the second quarter worth about $42,000. Institutional investors and hedge funds own 67.85% of the company’s stock.
Shares of NYSE BA traded up $3.92 during trading hours on Friday, hitting $374.92. The company’s stock had a trading volume of 3,934,744 shares, compared to its average volume of 3,719,077. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03. The stock has a market cap of $210.51 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 12.21 and a beta of 1.25. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01. The business has a 50-day simple moving average of $370.70 and a 200-day simple moving average of $362.49.
Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period last year, the firm earned $3.33 earnings per share. On average, equities research analysts forecast that Boeing Co will post 3.71 EPS for the current year.
Several research analysts have recently commented on BA shares. Robert W. Baird reiterated an “outperform” rating and issued a $445.00 price objective (down previously from $470.00) on shares of Boeing in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Bank of America decreased their price objective on Boeing from $420.00 to $415.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group set a $470.00 price objective on Boeing and gave the stock a “buy” rating in a report on Tuesday, September 24th. Credit Suisse Group reiterated a “buy” rating and issued a $425.00 price objective on shares of Boeing in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $403.10.
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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