Markston International LLC Sells 3,308 Shares of Boeing Co (NYSE:BA)
Markston International LLC reduced its holdings in shares of Boeing Co (NYSE:BA) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,439 shares of the aircraft producer’s stock after selling 3,308 shares during the quarter. Boeing makes up about 2.1% of Markston International LLC’s portfolio, making the stock its 13th biggest holding. Markston International LLC’s holdings in Boeing were worth $17,494,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Demars Financial Group LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $142,000. Elevated Capital Advisors LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $211,000. Intelligence Driven Advisers LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $206,000. WFA of San Diego LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $227,000. Finally, Nuveen Asset Management LLC lifted its holdings in Boeing by 7.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,493,913 shares of the aircraft producer’s stock worth $640,435,000 after purchasing an additional 229,000 shares during the last quarter. Institutional investors own 52.57% of the company’s stock.
In other Boeing news, Director Steven M. Mollenkopf bought 1,152 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $173.36 per share, for a total transaction of $199,710.72. Following the transaction, the director now directly owns 1,152 shares in the company, valued at $199,710.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 29th. The aircraft producer reported ($4.79) EPS for the quarter, missing the consensus estimate of ($2.93) by ($1.86). Boeing had a negative net margin of 4.27% and a negative return on equity of 3.08%. The business had revenue of $11.81 billion for the quarter, compared to the consensus estimate of $12.95 billion. During the same quarter in the previous year, the company earned ($5.82) EPS. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, analysts expect that Boeing Co will post -10.1 EPS for the current year.
Several analysts recently weighed in on BA shares. Royal Bank of Canada lifted their price target on Boeing from $164.00 to $194.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. ValuEngine cut Boeing from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 1st. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and set a $165.00 price objective for the company. in a report on Friday, June 26th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $156.00 price objective on shares of Boeing in a report on Wednesday, July 29th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Boeing in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $207.04.
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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