Bristol Gate Capital Partners Inc. Has $26,206,000 Position in Boeing Co. (BA)
Bristol Gate Capital Partners Inc. reduced its position in shares of Boeing Co. (NYSE:BA) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 201,790 shares of the aircraft producer’s stock after selling 4,448 shares during the period. Boeing accounts for approximately 4.7% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 15th largest position. Bristol Gate Capital Partners Inc.’s holdings in Boeing were worth $26,206,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BA. CWM LLC increased its position in shares of Boeing by 23.6% in the second quarter. CWM LLC now owns 1,477 shares of the aircraft producer’s stock worth $192,000 after buying an additional 282 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Boeing by 82.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,513 shares of the aircraft producer’s stock worth $192,000 after buying an additional 682 shares in the last quarter. Maryland Capital Management bought a new position in shares of Boeing during the first quarter worth about $203,000. Quadrant Capital Group LLC increased its position in shares of Boeing by 16.0% in the second quarter. Quadrant Capital Group LLC now owns 1,635 shares of the aircraft producer’s stock worth $205,000 after buying an additional 226 shares in the last quarter. Finally, Atlas Brown Inc. bought a new position in shares of Boeing during the second quarter worth about $220,000. Institutional investors and hedge funds own 75.49% of the company’s stock.
Boeing Co. (NYSE:BA) traded up 0.82% on Tuesday, reaching $135.10. The company had a trading volume of 2,263,512 shares. Boeing Co. has a 52-week low of $102.10 and a 52-week high of $150.59. The stock has a 50 day moving average price of $131.42 and a 200 day moving average price of $131.26. The stock has a market capitalization of $84.28 billion, a PE ratio of 24.32 and a beta of 1.03.
Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.48. Boeing had a net margin of 3.84% and a return on equity of 82.66%. The company earned $24.80 million during the quarter, compared to the consensus estimate of $23.22 million. During the same period last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Boeing Co. will post $6.29 EPS for the current year.
BA has been the topic of several research analyst reports. Vetr downgraded Boeing from a “buy” rating to a “hold” rating and set a $133.41 target price on the stock. in a research note on Thursday, June 30th. Canaccord Genuity boosted their target price on Boeing from $140.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Deutsche Bank AG restated a “buy” rating and set a $160.00 target price on shares of Boeing in a research note on Monday, June 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $145.00 target price on shares of Boeing in a research note on Sunday, July 31st. Finally, Bank of America Corp. restated an “underperform” rating and set a $125.00 target price on shares of Boeing in a research note on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $147.94.
In related news, Director Randall L. Stephenson purchased 1,871 shares of Boeing stock in a transaction dated Monday, August 1st. The stock was bought at an average cost of $133.89 per share, for a total transaction of $250,508.19. Following the transaction, the director now owns 3,721 shares in the company, valued at $498,204.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Diana L. Sands sold 14,151 shares of Boeing stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $133.06, for a total transaction of $1,882,932.06. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
The Boeing Company is an aerospace firm. The Company operates in five segments: Commercial airplanes; Defense, Space & Security (BDS) business, such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). Its Commercial Airplanes segment develops, produces and markets commercial jet aircraft, which provides related support services to the commercial airline industry.
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