Modera Wealth Management LLC Has $1.01 Million Stock Position in Boeing Co (NYSE:BA)

Modera Wealth Management LLC increased its holdings in shares of Boeing Co (NYSE:BA) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,772 shares of the aircraft producer’s stock after purchasing an additional 194 shares during the period. Modera Wealth Management LLC’s holdings in Boeing were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NuWave Investment Management LLC boosted its holdings in Boeing by 554.5% in the second quarter. NuWave Investment Management LLC now owns 72 shares of the aircraft producer’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Boeing by 128.1% in the first quarter. Nordea Investment Management AB now owns 73 shares of the aircraft producer’s stock worth $28,000 after acquiring an additional 41 shares in the last quarter. Guidant Wealth Advisors bought a new position in Boeing in the second quarter worth approximately $28,000. Next Capital Management LLC bought a new position in Boeing in the fourth quarter worth approximately $32,000. Finally, Clarfeld Financial Advisors LLC bought a new position in Boeing in the fourth quarter worth approximately $40,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Shares of BA traded up $1.60 on Friday, reaching $356.01. 10,943,537 shares of the company’s stock traded hands, compared to its average volume of 4,300,527. 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 stock has a market cap of $199.43 billion, a PE ratio of 22.24, a PEG ratio of 10.49 and a beta of 1.27. The stock’s 50 day simple moving average is $348.22 and its two-hundred day simple moving average is $371.20. Boeing Co has a 52-week low of $292.47 and a 52-week high of $446.01.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $1.07. The company had revenue of $15.75 billion during the quarter, compared to the consensus estimate of $15.05 billion. Boeing had a negative return on equity of 632.24% and a net margin of 5.42%. Boeing’s revenue was down 35.1% on a year-over-year basis. During the same period last year, the business posted $3.33 earnings per share. Analysts forecast that Boeing Co will post 4.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 9th will be given a dividend of $2.055 per share. This represents a $8.22 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 8th. Boeing’s payout ratio is 51.34%.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Boeing from $430.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. ValuEngine upgraded Boeing from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank restated a “buy” rating and issued a $400.00 target price on shares of Boeing in a report on Tuesday, August 6th. Morgan Stanley set a $500.00 target price on Boeing and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Buckingham Research raised their target price on Boeing from $370.00 to $395.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $403.10.

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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