Sterneck Capital Management Lowers stake in Boeing Co (BA)

Boeing Co (BA) : Sterneck Capital Management reduced its stake in Boeing Co by 12.75% during the most recent quarter end. The investment management company now holds a total of 20,205 shares of Boeing Co which is valued at $2.6 Million after selling 2,953 shares in Boeing Co , the firm said in a disclosure report filed with the SEC on May 27, 2016.Boeing Co makes up approximately 1.80% of Sterneck Capital Management’s portfolio.

Other Hedge Funds, Including , Martin Co Inc Tn reduced its stake in BA by selling 770 shares or 4.54% in the most recent quarter. The Hedge Fund company now holds 16,205 shares of BA which is valued at $2.1 Million. Boeing Co makes up approx 0.66% of Martin Co Inc Tn’s portfolio.Krilogy Financial boosted its stake in BA in the latest quarter, The investment management firm added 143 additional shares and now holds a total of 2,931 shares of Boeing Co which is valued at $387,244. Boeing Co makes up approx 0.16% of Krilogy Financial’s portfolio.Reynders Mcveigh Capital Management boosted its stake in BA in the latest quarter, The investment management firm added 4,020 additional shares and now holds a total of 5,710 shares of Boeing Co which is valued at $754,405. Boeing Co makes up approx 0.11% of Reynders Mcveigh Capital Management’s portfolio.Mazama Capital Management Inc boosted its stake in BA in the latest quarter, The investment management firm added 5,376 additional shares and now holds a total of 50,029 shares of Boeing Co which is valued at $6.6 Million. Boeing Co makes up approx 1.35% of Mazama Capital Management Inc’s portfolio.

Boeing Co opened for trading at $132.41 and hit $133.39 on the upside on Tuesday, eventually ending the session at $131.93, with a gain of 0.02% or 0.03 points. The heightened volatility saw the trading volume jump to 44,23,983 shares. Company has a market cap of $84,041 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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