Convergence Investment Partners Lowers stake in Boeing Co (BA)

Boeing Co (BA) : Convergence Investment Partners reduced its stake in Boeing Co by 5.92% during the most recent quarter end. The investment management company now holds a total of 71,169 shares of Boeing Co which is valued at $9,472,594 after selling 4,475 shares in Boeing Co , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Boeing Co makes up approximately 1.25% of Convergence Investment Partners’s portfolio.

Other Hedge Funds, Including , Frontier Wealth Management reduced its stake in BA by selling 155 shares or 2.02% in the most recent quarter. The Hedge Fund company now holds 7,528 shares of BA which is valued at $1,001,977. Boeing Co makes up approx 0.14% of Frontier Wealth Management’s portfolio.Btim Corp. reduced its stake in BA by selling 110 shares or 2.71% in the most recent quarter. The Hedge Fund company now holds 3,950 shares of BA which is valued at $522,151. Boeing Co makes up approx 0.01% of Btim Corp.’s portfolio.Denver Investment Advisors reduced its stake in BA by selling 53 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 4,916 shares of BA which is valued at $653,828. Boeing Co makes up approx 0.03% of Denver Investment Advisors’s portfolio.Markston International reduced its stake in BA by selling 3,952 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 193,685 shares of BA which is valued at $26,333,413. Boeing Co makes up approx 2.39% of Markston International’s portfolio.Beacon Financial Group boosted its stake in BA in the latest quarter, The investment management firm added 542 additional shares and now holds a total of 3,582 shares of Boeing Co which is valued at $466,054. Boeing Co makes up approx 0.10% of Beacon Financial Group’s portfolio.

Boeing Co closed down -0.56 points or -0.41% at $134.44 with 19,22,645 shares getting traded on Friday. Post opening the session at $134.5, the shares hit an intraday low of $133.84 and an intraday high of $135 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Boeing Co reported $-0.44 EPS for the quarter, missing the analyst consensus estimate by $ -2.68 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $2.24. The company had revenue of $24755.00 million for the quarter, compared to analysts expectations of $24174.22 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Many Wall Street Analysts have commented on Boeing Co. Company shares were Reiterated by Canaccord Genuity on Jul 28, 2016 to “Hold”, Firm has raised the Price Target to $ 144 from a previous price target of $140 .Morgan Stanley Initiated Boeing Co on Jun 23, 2016 to “Overweight”, Price Target of the shares are set at $153.

The Boeing Company together with its subsidiaries is an aerospace company. The Company operates through five segments: Commercial Airplanes Boeing Military Aircraft (BMA) Network & Space Systems (N&SS) Global Services & Support (GS&S) and Boeing Capital (BCC). The Defense Space & Security (BDS) business includes BMA N&SS and GS&S. The Commercial Airplanes segment develops produces and markets commercial jet aircraft and provides related support services. The BMA segment is engaged in the research development production and modification of manned and unmanned military aircraft and weapons systems for global strike. The N&SS segment is engaged in the research development production and modification of the products and related services. The GS&S segment provides a range of support solutions. The BCC segment’s portfolio consists of equipment under operating leases finance leases notes and other receivables assets held for sale or re-lease and investments.

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