Ferguson Wellman Capital Management Inc. Grows Stake in Boeing Co (BA)

Ferguson Wellman Capital Management Inc. grew its holdings in Boeing Co (NYSE:BA) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,005 shares of the aircraft producer’s stock after purchasing an additional 341 shares during the quarter. Boeing makes up approximately 1.2% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Boeing were worth $33,553,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Hudock Capital Group LLC boosted its position in Boeing by 3.4% during the second quarter. Hudock Capital Group LLC now owns 4,341 shares of the aircraft producer’s stock worth $1,456,000 after acquiring an additional 144 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in shares of Boeing by 0.5% in the 2nd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 30,349 shares of the aircraft producer’s stock valued at $10,182,000 after purchasing an additional 146 shares during the last quarter. TNB Financial boosted its holdings in shares of Boeing by 1.6% in the 2nd quarter. TNB Financial now owns 9,397 shares of the aircraft producer’s stock valued at $3,153,000 after purchasing an additional 149 shares during the last quarter. Elite Wealth Management Inc. boosted its holdings in shares of Boeing by 17.8% in the 1st quarter. Elite Wealth Management Inc. now owns 993 shares of the aircraft producer’s stock valued at $326,000 after purchasing an additional 150 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. boosted its holdings in shares of Boeing by 9.5% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 1,728 shares of the aircraft producer’s stock valued at $580,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 69.71% of the company’s stock.

Shares of BA stock opened at $385.77 on Tuesday. Boeing Co has a 52 week low of $254.50 and a 52 week high of $394.28. The company has a current ratio of 1.11, a quick ratio of 0.32 and a debt-to-equity ratio of -7.65. The firm has a market capitalization of $213.66 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.12). Boeing had a net margin of 9.92% and a return on equity of 2,344.87%. The business had revenue of $24.26 billion during the quarter, compared to analysts’ expectations of $24.02 billion. During the same period in the prior year, the business posted $2.55 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Boeing Co will post 14.6 earnings per share for the current year.

A number of brokerages have weighed in on BA. Cowen reiterated a “buy” rating and issued a $445.00 price target on shares of Boeing in a report on Monday, October 1st. Morgan Stanley set a $400.00 price target on shares of Boeing and gave the company a “hold” rating in a report on Friday, September 28th. ValuEngine upgraded shares of Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Jefferies Financial Group lifted their price target on shares of Boeing to $410.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $430.00 price target on shares of Boeing in a report on Monday, September 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Boeing has an average rating of “Buy” and an average target price of $401.25.

Boeing 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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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