Boeing Co (BA) Stake Decreased by Oak Ridge Investments LLC

Oak Ridge Investments LLC lessened its holdings in shares of Boeing Co (NYSE:BA) by 45.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,638 shares of the aircraft producer’s stock after selling 1,372 shares during the period. Oak Ridge Investments LLC’s holdings in Boeing were worth $550,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Argent Trust Co lifted its position in Boeing by 5.1% during the fourth quarter. Argent Trust Co now owns 5,625 shares of the aircraft producer’s stock valued at $1,659,000 after purchasing an additional 271 shares during the period. Financial Gravity Wealth Inc. acquired a new position in Boeing during the first quarter valued at $463,000. Zweig DiMenna Associates LLC acquired a new position in Boeing during the first quarter valued at $28,833,000. Great Lakes Advisors LLC lifted its position in Boeing by 6.2% during the first quarter. Great Lakes Advisors LLC now owns 59,913 shares of the aircraft producer’s stock valued at $19,644,000 after purchasing an additional 3,480 shares during the period. Finally, White Pine Investment CO acquired a new position in Boeing during the first quarter valued at $205,000. Institutional investors and hedge funds own 69.71% of the company’s stock.

A number of research analysts recently issued reports on BA shares. Credit Suisse Group restated a “buy” rating and set a $455.00 target price on shares of Boeing in a research report on Thursday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $400.00 price objective on shares of Boeing in a research report on Thursday, July 26th. Berenberg Bank reiterated a “buy” rating and issued a $430.00 price objective on shares of Boeing in a research report on Monday, September 3rd. UBS Group started coverage on shares of Boeing in a research report on Wednesday, August 15th. They issued a “buy” rating and a $515.00 price objective for the company. Finally, Robert W. Baird reiterated a “buy” rating and issued a $450.00 price objective on shares of Boeing in a research report on Monday, August 13th. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $401.25.

BA stock opened at $368.25 on Wednesday. The stock has a market cap of $213.66 billion, a PE ratio of 30.59, a P/E/G ratio of 1.85 and a beta of 1.39. The company has a debt-to-equity ratio of -7.65, a current ratio of 1.11 and a quick ratio of 0.32. Boeing Co has a 52 week low of $254.50 and a 52 week high of $394.28.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 25th. The aircraft producer reported $3.33 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.12). The company had revenue of $24.26 billion for the quarter, compared to analysts’ expectations of $24.02 billion. Boeing had a return on equity of 2,344.87% and a net margin of 9.92%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. As a group, equities analysts anticipate that Boeing Co will post 14.6 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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