Boeing Co (BA) Position Reduced by Harvest Capital Management Inc

Harvest Capital Management Inc lowered its holdings in shares of Boeing Co (NYSE:BA) by 28.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,115 shares of the aircraft producer’s stock after selling 450 shares during the period. Harvest Capital Management Inc’s holdings in Boeing were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Summit Trail Advisors LLC boosted its holdings in Boeing by 33,457.1% in the first quarter. Summit Trail Advisors LLC now owns 3,700,676 shares of the aircraft producer’s stock worth $3,701,000 after acquiring an additional 3,689,648 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Boeing by 33,433.9% in the second quarter. Cornerstone Wealth Management LLC now owns 2,409,747 shares of the aircraft producer’s stock worth $7,169,000 after acquiring an additional 2,402,561 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Boeing by 23.3% in the second quarter. Janus Henderson Group PLC now owns 5,928,288 shares of the aircraft producer’s stock worth $1,989,009,000 after acquiring an additional 1,121,675 shares in the last quarter. FMR LLC boosted its holdings in Boeing by 16.0% in the second quarter. FMR LLC now owns 7,415,662 shares of the aircraft producer’s stock worth $2,488,029,000 after acquiring an additional 1,023,959 shares in the last quarter. Finally, Boston Partners bought a new position in Boeing in the second quarter worth approximately $328,421,000. 70.42% of the stock is owned by institutional investors and hedge funds.

BA stock opened at $369.34 on Friday. Boeing Co has a twelve month low of $259.60 and a twelve month high of $394.28. The company has a debt-to-equity ratio of 8.07, a quick ratio of 0.32 and a current ratio of 1.10. The company has a market capitalization of $211.26 billion, a PE ratio of 24.24, a P/E/G ratio of 1.80 and a beta of 1.30.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 24th. The aircraft producer reported $3.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.47 by $0.11. Boeing had a negative return on equity of 4,176.41% and a net margin of 10.36%. The company had revenue of $25.15 billion for the quarter, compared to analyst estimates of $23.84 billion. During the same quarter last year, the company earned $2.72 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Boeing Co will post 15.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 8th. Boeing’s payout ratio is 56.81%.

Several brokerages have issued reports on BA. UBS Group increased their price target on Boeing from $325.00 to $357.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Cowen reiterated a “buy” rating and issued a $430.00 price target on shares of Boeing in a report on Wednesday, July 25th. Goldman Sachs Group set a $387.00 price target on Boeing and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Berenberg Bank reiterated a “buy” rating and issued a $430.00 price target on shares of Boeing in a report on Monday, September 3rd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $455.00 price target on shares of Boeing in a report on Thursday, July 26th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $410.21.

In related news, SVP Diana L. Sands sold 5,000 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $350.07, for a total transaction of $1,750,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

WARNING: This piece of content was first reported by WKRB News and is the sole property of of WKRB News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.wkrb13.com/2018/11/10/boeing-co-ba-position-reduced-by-harvest-capital-management-inc.html.

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.

Featured Article: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boeing Co (NYSE:BA).

Institutional Ownership by Quarter for Boeing (NYSE:BA)

Receive News & Ratings for Boeing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boeing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply