Abner Herrman & Brock LLC lifted its position in Boeing Co (NYSE:BA) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,750 shares of the aircraft producer’s stock after buying an additional 4,638 shares during the period. Boeing makes up about 5.4% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its biggest position. Abner Herrman & Brock LLC’s holdings in Boeing were worth $36,430,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BA. NuWave Investment Management LLC boosted its position in shares of Boeing by 554.5% during the 2nd quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after purchasing an additional 61 shares during the period. Nordea Investment Management AB boosted its position in shares of Boeing by 128.1% during the 1st quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after purchasing an additional 41 shares during the period. Guidant Wealth Advisors purchased a new position in shares of Boeing during the 2nd quarter worth approximately $28,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Boeing during the 2nd quarter worth approximately $40,000. Finally, Next Capital Management LLC purchased a new position in shares of Boeing during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 67.85% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Buckingham Research set a $395.00 price objective on shares of Boeing and gave the stock a “hold” rating in a research report on Friday, September 27th. Wolfe Research cut shares of Boeing from an “outperform” rating to a “peer perform” rating and decreased their price target for the company from $404.00 to $393.00 in a research report on Thursday, July 25th. Berenberg Bank set a $440.00 price target on shares of Boeing and gave the company a “buy” rating in a research report on Friday. Goldman Sachs Group reissued a “neutral” rating and issued a $375.00 price target on shares of Boeing in a research report on Friday, July 12th. Finally, ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Three 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’s stock. Boeing currently has a consensus rating of “Hold” and a consensus price target of $403.10.
Shares of Boeing stock traded up $1.70 during trading on Friday, hitting $372.70. 2,264,970 shares of the stock were exchanged, compared to its average volume of 3,719,077. The stock has a market cap of $210.51 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 12.21 and a beta of 1.25. The firm’s 50-day moving average price is $370.70 and its 200 day moving average price is $362.49. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The company has a debt-to-equity ratio of 48.98, a current ratio of 1.03 and a quick ratio of 0.29.
Boeing (NYSE:BA) last released its quarterly earnings data 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 business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The company’s revenue for the quarter was down 35.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.33 EPS. As a group, research analysts forecast that Boeing Co will post 3.71 earnings per share for the current 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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