KG&L Capital Management LLC increased its position in shares of Boeing Co (NYSE:BA) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,138 shares of the aircraft producer’s stock after buying an additional 535 shares during the quarter. Boeing comprises about 1.1% of KG&L Capital Management LLC’s portfolio, making the stock its 23rd biggest position. 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 have also recently bought and sold shares of the stock. Claraphi Advisory Network LLC raised its stake in shares of Boeing by 3.6% in the second quarter. Claraphi Advisory Network LLC now owns 2,943 shares of the aircraft producer’s stock worth $1,071,000 after purchasing an additional 103 shares during the last quarter. Dupont Capital Management Corp raised its stake in shares of Boeing by 0.3% in the second quarter. Dupont Capital Management Corp now owns 45,420 shares of the aircraft producer’s stock worth $16,533,000 after purchasing an additional 125 shares during the last quarter. Corrado Advisors LLC raised its stake in shares of Boeing by 4.1% in the second quarter. Corrado Advisors LLC now owns 7,901 shares of the aircraft producer’s stock worth $2,876,000 after purchasing an additional 310 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Boeing by 1,405.4% in the second quarter. Cubist Systematic Strategies LLC now owns 30,830 shares of the aircraft producer’s stock worth $11,222,000 after purchasing an additional 28,782 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Boeing by 6.3% in the second quarter. Greenleaf Trust now owns 5,782 shares of the aircraft producer’s stock valued at $2,105,000 after acquiring an additional 342 shares in the last quarter. 67.85% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on BA. Jefferies Financial Group reduced their target price on Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. reduced their target price on Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Bank of America reduced their target price on Boeing from $420.00 to $415.00 and set a “neutral” rating for the company in a report on Wednesday. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $375.00 target price on shares of Boeing in a report on Friday, July 12th. Finally, Berenberg Bank set a $440.00 target price on Boeing and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $403.10.
NYSE BA traded up $3.92 on Friday, hitting $374.92. 3,934,744 shares of the stock traded hands, compared to its average volume of 3,719,077. The business’s fifty day moving average is $370.70 and its two-hundred day moving average is $362.49. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01. The firm has a market capitalization of $210.51 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 12.21 and a beta of 1.25. The company has a debt-to-equity ratio of 48.98, a quick ratio of 0.29 and a current ratio of 1.03.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $1.85 by $1.07. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. The business had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. During the same period in the prior year, the company earned $3.33 earnings per share. Boeing’s revenue was down 35.1% compared to the same quarter last year. Analysts expect that Boeing Co will post 3.71 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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