Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Stock Position in Boeing Co (NYSE:BA)

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its holdings in Boeing Co (NYSE:BA) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,966 shares of the aircraft producer’s stock after selling 194 shares during the quarter. Boeing accounts for 1.4% of Carlton Hofferkamp & Jenks Wealth Management LLC’s portfolio, making the stock its 17th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Boeing were worth $2,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NuWave Investment Management LLC raised its position in shares of Boeing by 554.5% during the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Boeing by 128.1% during the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock valued at $28,000 after buying an additional 41 shares during the last quarter. Guidant Wealth Advisors bought a new stake in shares of Boeing during the second quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Boeing during the second quarter valued at approximately $40,000. Finally, Next Capital Management LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $42,000. 67.85% of the stock is currently owned by institutional investors.

BA traded up $1.70 during trading hours on Friday, hitting $372.70. The company’s stock had a trading volume of 2,264,970 shares, compared to its average volume of 3,719,077. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 48.98. The business’s 50-day moving average price is $370.70 and its 200-day moving average price is $362.49. The stock has a market cap of $210.51 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 12.21 and a beta of 1.25. Boeing Co has a 12 month low of $292.47 and a 12 month high of $446.01.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, topping the consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. Boeing’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.33 earnings per share. On average, analysts forecast that Boeing Co will post 3.71 earnings per share for the current year.

Several research firms have recently issued reports on BA. Credit Suisse Group reiterated a “buy” rating and set a $425.00 price objective on shares of Boeing in a research report on Thursday, July 25th. UBS Group set a $470.00 price objective on shares of Boeing and gave the company a “buy” rating in a research report on Tuesday, September 24th. Robert W. Baird reiterated an “outperform” rating and set a $445.00 price objective (down previously from $470.00) on shares of Boeing in a research report on Wednesday, October 2nd. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and set a $460.00 price objective on shares of Boeing in a research report on Friday. Finally, Bank of America reduced their price objective on shares of Boeing from $420.00 to $415.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $403.10.

About Boeing

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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