Dearborn Partners LLC Trims Stake in Boeing Co (NYSE:BA)

Dearborn Partners LLC lowered its stake in Boeing Co (NYSE:BA) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,975 shares of the aircraft producer’s stock after selling 118 shares during the quarter. Dearborn Partners LLC’s holdings in Boeing were worth $1,095,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Cordasco Financial Network purchased a new stake in Boeing in the 1st quarter valued at approximately $26,000. MBE Wealth Management LLC purchased a new position in shares of Boeing during the 1st quarter worth $26,000. Marquette Asset Management LLC lifted its stake in shares of Boeing by 316.7% during the 1st quarter. Marquette Asset Management LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 152 shares during the period. Rocky Mountain Advisers LLC lifted its stake in shares of Boeing by 100.0% during the 1st quarter. Rocky Mountain Advisers LLC now owns 200 shares of the aircraft producer’s stock worth $30,000 after purchasing an additional 100 shares during the period. Finally, NuWave Investment Management LLC purchased a new position in shares of Boeing during the 2nd quarter worth $30,000. 61.66% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BA traded down $3.95 during trading hours on Friday, hitting $158.00. The company had a trading volume of 30,286,699 shares, compared to its average volume of 34,075,772. Boeing Co has a fifty-two week low of $89.00 and a fifty-two week high of $391.00. The company has a market capitalization of $89.18 billion, a price-to-earnings ratio of -31.29 and a beta of 1.47. The firm’s 50 day moving average is $180.12 and its 200 day moving average is $204.01.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.93) by ($1.86). Boeing had a negative net margin of 4.27% and a negative return on equity of 3.08%. The company had revenue of $11.81 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the prior year, the company posted ($5.82) earnings per share. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, equities analysts predict that Boeing Co will post -6.26 EPS for the current fiscal year.

A number of brokerages have weighed in on BA. Nord/LB lowered Boeing from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Norddeutsche Landesbank lowered Boeing to a “sell” rating and set a $110.00 price target on the stock. in a research note on Tuesday, May 5th. TheStreet lowered Boeing from a “c-” rating to a “d” rating in a research note on Wednesday, April 29th. Jefferies Financial Group increased their price target on Boeing from $185.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and set a $165.00 target price on the stock. in a research report on Friday, June 26th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $217.38.

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 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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