Renaissance Investment Group Lowers stake in Boeing Co (BA)

Boeing Co (BA) : Renaissance Investment Group reduced its stake in Boeing Co by 1.87% during the most recent quarter end. The investment management company now holds a total of 36,157 shares of Boeing Co which is valued at $4.6 Million after selling 690 shares in Boeing Co according to a report filed by the company on Apr 1, 2016 with the SEC.Boeing Co makes up approximately 2.30% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management boosted its stake in BA in the latest quarter, The investment management firm added 1,250 additional shares and now holds a total of 255,190 shares of Boeing Co which is valued at $32.4 Million. Boeing Co makes up approx 3.48% of Cacti Asset Management’s portfolio.

On the company’s financial health, Boeing Co reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.33 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $1.27. The company had revenue of $23573.00 million for the quarter, compared to analysts expectations of $23553.07 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.31 EPS.

Many Wall Street Analysts have commented on Boeing Co. Shares were Downgraded by Canaccord Genuity on Mar 3, 2016 to ” Hold” and Lowered the Price Target to $ 135 from a previous price target of $150 .Boeing Co was Upgraded by Buckingham Research to ” Neutral” on Feb 18, 2016. Boeing Co was Downgraded by JP Morgan to ” Neutral” on Feb 12, 2016.

Boeing Co opened for trading at $128.25 and hit $129.9 on the upside on Monday, eventually ending the session at $127.91, with a gain of 0.02% or 0.03 points. The heightened volatility saw the trading volume jump to 36,11,717 shares. Company has a market cap of $84,741 M.

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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