Hodges Capital Management Inc. Has $7.22 Million Holdings in The Boeing Company (NYSE:BA)

Hodges Capital Management Inc. lessened its stake in shares of The Boeing Company (NYSE:BA) by 12.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,656 shares of the aircraft producer’s stock after selling 5,541 shares during the period. Hodges Capital Management Inc.’s holdings in Boeing were worth $7,218,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BA. Foundations Investment Advisors LLC raised its holdings in Boeing by 40.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 68,006 shares of the aircraft producer’s stock worth $12,378,000 after acquiring an additional 19,428 shares during the period. Cozad Asset Management Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $202,000. Absher Wealth Management LLC increased its stake in shares of Boeing by 3.4% in the second quarter. Absher Wealth Management LLC now owns 94,727 shares of the aircraft producer’s stock worth $17,241,000 after purchasing an additional 3,128 shares during the period. Archer Investment Corp lifted its position in shares of Boeing by 21.4% during the 2nd quarter. Archer Investment Corp now owns 3,742 shares of the aircraft producer’s stock worth $681,000 after purchasing an additional 660 shares during the last quarter. Finally, Founders Financial Securities LLC boosted its stake in Boeing by 55.4% during the 2nd quarter. Founders Financial Securities LLC now owns 1,680 shares of the aircraft producer’s stock valued at $306,000 after purchasing an additional 599 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock traded up $2.10 during trading hours on Wednesday, reaching $163.12. The company had a trading volume of 940,181 shares, compared to its average volume of 7,870,922. The Boeing Company has a 1-year low of $158.30 and a 1-year high of $267.54. The firm has a market cap of $100.14 billion, a price-to-earnings ratio of -45.36 and a beta of 1.56. The company has a 50 day moving average of $177.74 and a 200 day moving average of $181.39.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the company earned ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. UBS Group cut their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.29.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.