Convergence Investment Partners buys $10 Million stake in Boeing Co (BA)

Boeing Co (BA) : Convergence Investment Partners scooped up 8,976 additional shares in Boeing Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 75,644 shares of Boeing Co which is valued at $10 Million.Boeing Co makes up approximately 1.21% of Convergence Investment Partners’s portfolio.

Other Hedge Funds, Including , Bristol Gate Capital Partners boosted its stake in BA in the latest quarter, The investment management firm added 40,411 additional shares and now holds a total of 206,238 shares of Boeing Co which is valued at $27.2 Million. Boeing Co makes up approx 5.14% of Bristol Gate Capital Partners’s portfolio. Biondo Investment Advisors sold out all of its stake in BA during the most recent quarter. The investment firm sold 40,552 shares of BA which is valued $5.4 Million. Capital Management Associates Ny added BA to its portfolio by purchasing 2,300 company shares during the most recent quarter which is valued at $306,498. Boeing Co makes up approx 0.54% of Capital Management Associates Ny’s portfolio. Northpointe Capital added BA to its portfolio by purchasing 16,177 company shares during the most recent quarter which is valued at $2.2 Million. Boeing Co makes up approx 0.27% of Northpointe Capital’s portfolio.Chesley Taft Associates reduced its stake in BA by selling 41 shares or 1.41% in the most recent quarter. The Hedge Fund company now holds 2,866 shares of BA which is valued at $386,337. Boeing Co makes up approx 0.04% of Chesley Taft Associates’s portfolio.

Boeing Co opened for trading at $131.63 and hit $134.41 on the upside on Monday, eventually ending the session at $134.14, with a gain of 1.53% or 2.02 points. The heightened volatility saw the trading volume jump to 31,65,440 shares. Company has a market cap of $85,449 M.

On the company’s financial health, Boeing Co reported $1.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $1.84. The company had revenue of $22632.00 million for the quarter, compared to analysts expectations of $21497.36 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 EPS.

Many Wall Street Analysts have commented on Boeing Co. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 132 from a previous price target of $128 .Company shares were Reiterated by Canaccord Genuity on Apr 28, 2016 to “Hold”, Firm has raised the Price Target to $ 140 from a previous price target of $135 .Boeing Co was Downgraded by BofA/Merrill to ” Underperform” on Apr 20, 2016.

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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