Stralem & Co. Inc. Cuts Position in Boeing Co (NYSE:BA)

Stralem & Co. Inc. cut its stake in Boeing Co (NYSE:BA) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,425 shares of the aircraft producer’s stock after selling 80 shares during the period. Boeing comprises approximately 2.9% of Stralem & Co. Inc.’s portfolio, making the stock its 19th largest position. Stralem & Co. Inc.’s holdings in Boeing were worth $5,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Command Bank boosted its position in Boeing by 2.7% during the third quarter. First Command Bank now owns 9,039 shares of the aircraft producer’s stock valued at $3,439,000 after buying an additional 239 shares during the period. Kelman Lazarov Inc. purchased a new stake in Boeing during the third quarter valued at about $208,000. PrairieView Partners LLC purchased a new stake in Boeing during the third quarter valued at about $244,000. Summit X LLC boosted its position in Boeing by 130.1% during the third quarter. Summit X LLC now owns 2,048 shares of the aircraft producer’s stock valued at $787,000 after buying an additional 1,158 shares during the period. Finally, Security National Bank boosted its position in Boeing by 5.4% during the third quarter. Security National Bank now owns 12,109 shares of the aircraft producer’s stock valued at $4,607,000 after buying an additional 617 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

BA traded up $1.36 during midday trading on Wednesday, reaching $372.32. The company’s stock had a trading volume of 2,844,098 shares, compared to its average volume of 3,367,459. The firm has a market capitalization of $210.97 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 12.44 and a beta of 1.25. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. Boeing Co has a 1 year low of $292.47 and a 1 year high of $446.01. The stock’s 50-day moving average is $372.75 and its 200-day moving average is $362.64.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The firm had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. During the same quarter in the prior year, the company posted $3.33 earnings per share. The business’s revenue for the quarter was down 35.1% on a year-over-year basis. As a group, equities research analysts forecast that Boeing Co will post 3.46 earnings per share for the current fiscal year.

Several brokerages have recently commented on BA. Jefferies Financial Group lowered their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Bank of America lowered their price objective on shares of Boeing from $420.00 to $415.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. ValuEngine downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Berenberg Bank set a $440.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Citigroup set a $430.00 price objective on shares of Boeing and gave the company a “buy” rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $403.10.

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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