Icon Wealth Partners LLC Purchases New Stake in Boeing Co (BA)

Icon Wealth Partners LLC purchased a new position in shares of Boeing Co (NYSE:BA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 374 shares of the aircraft producer’s stock, valued at approximately $125,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kessler Investment Group LLC bought a new stake in shares of Boeing in the 2nd quarter worth approximately $1,726,000. Truewealth LLC grew its position in shares of Boeing by 17.7% in the 2nd quarter. Truewealth LLC now owns 1,624 shares of the aircraft producer’s stock worth $545,000 after buying an additional 244 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Boeing by 116.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 325,000 shares of the aircraft producer’s stock worth $109,041,000 after buying an additional 175,000 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its position in shares of Boeing by 163.3% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 19,877 shares of the aircraft producer’s stock worth $6,669,000 after buying an additional 12,327 shares during the last quarter. Finally, First National Trust Co grew its position in shares of Boeing by 5.6% in the 2nd quarter. First National Trust Co now owns 26,840 shares of the aircraft producer’s stock worth $9,005,000 after buying an additional 1,432 shares during the last quarter. Institutional investors and hedge funds own 69.71% of the company’s stock.

A number of research analysts have recently commented on BA shares. Zacks Investment Research cut Boeing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 12th. Cowen restated a “buy” rating and issued a $430.00 target price on shares of Boeing in a research note on Friday, July 13th. Canaccord Genuity restated a “hold” rating and issued a $350.00 target price on shares of Boeing in a research note on Tuesday, July 24th. Goldman Sachs Group set a $375.00 target price on Boeing and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $400.00 target price on shares of Boeing in a research note on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $401.25.

Shares of NYSE:BA opened at $359.35 on Friday. The firm has a market cap of $213.66 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.85 and a beta of 1.39. Boeing Co has a 12-month low of $254.50 and a 12-month high of $394.28. 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 (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 25th. The aircraft producer reported $3.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 net margin of 9.92% and a return on equity of 2,344.87%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 EPS. As a group, research analysts anticipate that Boeing Co will post 14.6 EPS for the current year.

Boeing 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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