Prio Wealth Limited Partnership Reduces Position in Boeing Co (BA)
Prio Wealth Limited Partnership lessened its stake in Boeing Co (NYSE:BA) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,305 shares of the aircraft producer’s stock after selling 201 shares during the period. Prio Wealth Limited Partnership’s holdings in Boeing were worth $3,457,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of BA. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Boeing by 220.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 320 shares of the aircraft producer’s stock worth $105,000 after acquiring an additional 220 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of Boeing during the first quarter worth about $108,000. Advisors Preferred LLC acquired a new position in shares of Boeing during the first quarter worth about $111,000. SWS Partners acquired a new position in Boeing during the fourth quarter worth about $123,000. Finally, Lucia Wealth Services LLC acquired a new position in Boeing during the first quarter worth about $126,000. Institutional investors and hedge funds own 69.71% of the company’s stock.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. restated a “buy” rating and set a $400.00 target price on shares of Boeing in a research report on Thursday, July 26th. UBS Group upped their price target on shares of Boeing from $325.00 to $357.00 and gave the company a “neutral” rating in a report on Thursday, July 26th. Cowen reaffirmed a “buy” rating and issued a $430.00 price target on shares of Boeing in a report on Wednesday, July 25th. ValuEngine raised shares of Boeing from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Finally, Zacks Investment Research raised shares of Boeing from a “hold” rating to a “buy” rating and set a $393.00 price target on the stock in a report on Monday, July 16th. Six research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $401.25.
Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by ($0.12). Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. The company had revenue of $24.26 billion for the quarter, compared to analyst estimates of $24.02 billion. During the same period in the prior year, the business earned $2.55 earnings per share. Boeing’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Boeing Co will post 14.6 EPS for the current year.
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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