StrongBox Wealth LLC Sells 701 Shares of Boeing Co (NYSE:BA)

StrongBox Wealth LLC trimmed its holdings in shares of Boeing Co (NYSE:BA) by 26.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,919 shares of the aircraft producer’s stock after selling 701 shares during the quarter. StrongBox Wealth LLC’s holdings in Boeing were worth $352,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in BA. Capital World Investors boosted its stake in shares of Boeing by 15.1% in the 1st quarter. Capital World Investors now owns 30,555,090 shares of the aircraft producer’s stock valued at $4,556,991,000 after purchasing an additional 3,997,531 shares in the last quarter. Capital International Investors boosted its stake in shares of Boeing by 7.7% in the 1st quarter. Capital International Investors now owns 10,734,838 shares of the aircraft producer’s stock valued at $1,600,997,000 after purchasing an additional 769,205 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 7,206,451 shares of the aircraft producer’s stock valued at $1,072,353,000 after buying an additional 27,011 shares during the last quarter. Public Investment Fund bought a new position in Boeing in the 1st quarter valued at approximately $713,677,000. Finally, Bank of New York Mellon Corp raised its holdings in Boeing by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,111,633 shares of the aircraft producer’s stock valued at $613,210,000 after buying an additional 111,698 shares during the last quarter. 61.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:BA traded down $3.95 during mid-day trading 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. The firm has a fifty day moving average price of $180.12 and a 200 day moving average price of $204.01. The company has a market capitalization of $89.18 billion, a PE ratio of -31.29 and a beta of 1.47. Boeing Co has a one year low of $89.00 and a one year high of $391.00.

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

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $158.00 price objective (up previously from $130.00) on shares of Boeing in a report on Friday, May 1st. Cowen reiterated a “hold” rating on shares of Boeing in a report on Sunday, June 7th. Jefferies Financial Group raised their price objective on shares of Boeing from $185.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Benchmark reiterated a “market perform” rating and issued a $180.00 price objective on shares of Boeing in a report on Monday, May 11th. Finally, Seaport Global Securities initiated coverage on shares of Boeing in a report on Monday, June 8th. They issued a “buy” rating and a $277.00 price objective for the company. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $217.38.

Boeing 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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