Concorde Asset Management LLC Sells 475 Shares of Boeing Co (BA)

Concorde Asset Management LLC cut its holdings in Boeing Co (NYSE:BA) by 33.1% during the fourth quarter, Holdings Channel reports. The firm owned 961 shares of the aircraft producer’s stock after selling 475 shares during the quarter. Concorde Asset Management LLC’s holdings in Boeing were worth $283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Boeing by 1.0% in the second quarter. Vanguard Group Inc. now owns 40,412,706 shares of the aircraft producer’s stock valued at $7,991,613,000 after purchasing an additional 407,511 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Boeing by 20.3% in the third quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Boeing by 7,215.0% in the second quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Boeing by 13.3% in the third quarter. Ameriprise Financial Inc. now owns 3,424,281 shares of the aircraft producer’s stock valued at $870,618,000 after purchasing an additional 402,240 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Boeing by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,275,519 shares of the aircraft producer’s stock valued at $965,756,000 after purchasing an additional 122,278 shares during the last quarter. Institutional investors own 76.55% of the company’s stock.

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Several equities analysts recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $470.00 target price (up from $395.00) on shares of Boeing in a research note on Thursday, February 1st. Canaccord Genuity raised their target price on shares of Boeing from $290.00 to $345.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Societe Generale set a $373.00 target price on shares of Boeing and gave the company a “neutral” rating in a research note on Thursday, February 1st. Credit Suisse Group set a $443.00 target price on shares of Boeing and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Sanford C. Bernstein raised their target price on shares of Boeing from $402.00 to $422.00 in a research note on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Boeing presently has an average rating of “Buy” and a consensus price target of $358.47.

In other news, CFO Gregory D. Smith sold 36,079 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $337.43, for a total value of $12,174,136.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.28% of the company’s stock.

Boeing Co (NYSE BA) opened at $354.52 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74. Boeing Co has a 52-week low of $173.75 and a 52-week high of $371.60. The company has a market cap of $208,631.58, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.37.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported $4.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion during the quarter, compared to analysts’ expectations of $24.78 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. equities analysts predict that Boeing Co will post 14.05 EPS for the current year.

Boeing announced that its Board of Directors has initiated a share buyback plan on Monday, December 11th that allows the company to repurchase $18.00 billion in shares. This repurchase authorization allows the aircraft producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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Boeing Company Profile

The Boeing Company is an aerospace company. The Company’s segments include Commercial Airplanes; Defense, Space & Security (BDS), such as Boeing Military Aircraft (BMA), Network & Space Systems (N&SS) and Global Services & Support (GS&S), and Boeing Capital (BCC). The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, to the commercial airline industry.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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