Park National Corp OH reduced its position in The Boeing Company (NYSE:BA) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,671 shares of the aircraft producer’s stock after selling 681 shares during the quarter. Park National Corp OH’s holdings in The Boeing were worth $1,444,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. United Bank lifted its holdings in shares of The Boeing by 2.0% during the third quarter. United Bank now owns 4,761 shares of the aircraft producer’s stock valued at $787,000 after acquiring an additional 95 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of The Boeing during the third quarter valued at $3,475,000. AQR Capital Management LLC bought a new position in shares of The Boeing during the third quarter valued at $477,000. Financial Advisory Service Inc. lifted its holdings in shares of The Boeing by 22.6% during the third quarter. Financial Advisory Service Inc. now owns 6,111 shares of the aircraft producer’s stock valued at $1,010,000 after acquiring an additional 1,125 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of The Boeing by 5,275.0% during the third quarter. Cubist Systematic Strategies LLC now owns 65,897 shares of the aircraft producer’s stock valued at $10,890,000 after acquiring an additional 64,671 shares during the period. 51.41% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on BA shares. The Goldman Sachs Group set a $275.00 price objective on The Boeing and gave the company a “buy” rating in a report on Monday, March 29th. Susquehanna raised their target price on The Boeing from $250.00 to $300.00 and gave the company a “positive” rating in a research note on Thursday, March 25th. Royal Bank of Canada set a $307.00 target price on The Boeing and gave the company a “buy” rating in a research note on Monday, January 4th. Nord/LB lowered The Boeing from a “hold” rating to a “sell” rating in a research note on Thursday, January 28th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $265.00 target price (up from $190.00) on shares of The Boeing in a research note on Tuesday, December 15th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $228.32.
The Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 26th. The aircraft producer reported ($15.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.78) by ($13.47). The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.36 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.33) EPS. On average, equities research analysts expect that The Boeing Company will post -9.39 EPS for the current fiscal year.
In other news, EVP Timothy John Keating sold 21,737 shares of The Boeing stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $202.15, for a total transaction of $4,394,134.55. Following the transaction, the executive vice president now owns 101,817 shares in the company, valued at approximately $20,582,306.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Theodore Colbert III sold 5,000 shares of The Boeing stock in a transaction dated Tuesday, February 2nd. The shares were sold at an average price of $200.80, for a total value of $1,004,000.00. Following the transaction, the chief executive officer now owns 49,846 shares in the company, valued at approximately $10,009,076.80. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.
The 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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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