Pinnacle Wealth Management Advisory Group LLC raised its holdings in The Boeing Company (NYSE:BA) by 105.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,900 shares of the aircraft producer’s stock after purchasing an additional 2,000 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in The Boeing were worth $934,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of The Boeing by 309.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,439,951 shares of the aircraft producer’s stock worth $133,557,000 after acquiring an additional 1,088,283 shares in the last quarter. BlackRock Inc. increased its position in The Boeing by 1.9% in the 1st quarter. BlackRock Inc. now owns 31,851,996 shares of the aircraft producer’s stock valued at $8,113,339,000 after buying an additional 607,992 shares in the last quarter. Geode Capital Management LLC increased its position in The Boeing by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 7,988,325 shares of the aircraft producer’s stock valued at $2,028,467,000 after buying an additional 363,662 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in The Boeing by 21.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,901,620 shares of the aircraft producer’s stock valued at $484,381,000 after buying an additional 338,090 shares in the last quarter. Finally, U S Global Investors Inc. bought a new stake in The Boeing in the 2nd quarter valued at about $75,285,000. 53.13% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. The Goldman Sachs Group decreased their target price on The Boeing from $304.00 to $267.52 and set a “buy” rating for the company in a research report on Thursday, July 29th. increased their target price on The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, May 21st. Wolfe Research upgraded shares of The Boeing from an “underperform” rating to a “peer perform” rating and set a $224.00 target price for the company in a report on Tuesday, July 13th. Credit Suisse Group set a $265.00 target price on shares of The Boeing in a research note on Tuesday, July 20th. Finally, Citigroup raised their price target on shares of The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, May 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Boeing currently has a consensus rating of “Hold” and a consensus price target of $256.72.
The Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 27th. The aircraft producer reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.83) by $1.23. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.03 billion. On average, research analysts predict that The Boeing Company will post -0.21 earnings per share for the current year.
About The Boeing
The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital. The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.
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