Wesbanco Bank Inc Lowers stake in Boeing Co (BA)

Boeing Co (BA) : Wesbanco Bank Inc reduced its stake in Boeing Co by 21.66% during the most recent quarter end. The investment management company now holds a total of 151,881 shares of Boeing Co which is valued at $20,200,173 after selling 42,003 shares in Boeing Co , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Boeing Co makes up approximately 1.17% of Wesbanco Bank Inc’s portfolio.

Other Hedge Funds, Including , Fukoku Mutual Life Insurance Co reduced its stake in BA by selling 200 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 37,800 shares of BA which is valued at $4,996,782. Boeing Co makes up approx 0.97% of Fukoku Mutual Life Insurance Co’s portfolio.Alpha Cubed Investments reduced its stake in BA by selling 968 shares or 36.65% in the most recent quarter. The Hedge Fund company now holds 1,673 shares of BA which is valued at $220,384. Boeing Co makes up approx 0.58% of Alpha Cubed Investments’s portfolio.Wall Street Access Asset Management reduced its stake in BA by selling 4,103 shares or 45.32% in the most recent quarter. The Hedge Fund company now holds 4,950 shares of BA which is valued at $652,757. Boeing Co makes up approx 0.38% of Wall Street Access Asset Management’s portfolio.

Boeing Co closed down -0.28 points or -0.21% at $134.72 with 28,54,630 shares getting traded on Wednesday. Post opening the session at $134.85, the shares hit an intraday low of $134.111 and an intraday high of $134.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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