financetom
Business
financetom
/
Business
/
Renaissance Technologies, Two Sigma among funds that dumped Boeing in first quarter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Renaissance Technologies, Two Sigma among funds that dumped Boeing in first quarter
May 15, 2024 12:28 PM

NEW YORK (Reuters) - Renaissance Technologies, Two Sigma Investments and Arrowstreet Capital were among large firms that sold all their shares of embattled aircraft maker Boeing Co ( BA ) in the first quarter, according to securities filings released on Wednesday.

Renaissance Technologies sold 1,057,900 shares in Boeing ( BA ) over the first quarter, a position that was worth slightly more than $240 million at the end of the period and would be worth about $187 million now. Two Sigma Investments sold 108,423 shares, while Arrowstreet Capital sold 47,571 shares.

Shares of Boeing ( BA ) are down 32% for the year-to-date as the aircraft manufacturer battles a safety crisis exacerbated by a January mid-air panel blowout on a 737 MAX plane. Chief Executive Dave Calhoun said on March 25 that he will step down by the end of the year.

The U.S. Justice Department on Wednesday said Boeing ( BA ) breached its obligations under a 2021 agreement that kept the planemaker from criminal prosecution following fatal 737 MAX crashes in 2018 and 2019 that killed a total of 346 people.

The Justice Department finding raises the prospect that Boeing ( BA ) could face prosecution it had previously avoided, which could result in fresh penalties.

A refrigerator-sized panel tore off a Boeing 737 MAX 9 jet operated by Alaskan Airlines in January, forcing pilots to turn back and land safely with all 171 passengers and six crew on board.

Loomis Sayles and Wellington Management Co were among the largest buyers of Boeing ( BA ) stock in the first quarter, according to securities filings.

Quarterly disclosures of hedge fund and other institutional investors stock holdings in 13F filings with the U.S. Securities and Exchange Commission are one of the few public ways of tracking what hedge fund managers are selling and buying. The disclosures are made 45 days after the end of each quarter and may not reflect current positions.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Newell Brands Swings to Q1 Normalized Loss, Sales Fall; Q2 Normalized EPS Outlook Issued
Newell Brands Swings to Q1 Normalized Loss, Sales Fall; Q2 Normalized EPS Outlook Issued
May 25, 2025
09:05 AM EDT, 04/30/2025 (MT Newswires) -- Newell Brands ( NWL ) swung to a Q1 normalized loss Wednesday of $0.01 per diluted share from breakeven a year earlier. Analysts polled by FactSet expected a loss of $0.06. Net sales for the quarter ended March 31 were $1.57 billion, down from $1.65 billion a year earlier. Analysts surveyed by FactSet...
Magellan Aerospace Signs Long-Term Agreements With Pratt & Whitney Canada
Magellan Aerospace Signs Long-Term Agreements With Pratt & Whitney Canada
May 25, 2025
09:09 AM EDT, 04/30/2025 (MT Newswires) -- Magellan Aerospace ( MALJF ) , which rose 2.8% to near 52 week highs yesterday, on Wednesday announced that it has signed long-term agreements with Pratt & Whitney Canada. The agreements include a combination of contract extensions to legacy agreements and new manufacturing program awards, under which complex machined components will be delivered...
Graham Holdings' Q1 Adjusted Earnings, Revenue Rise
Graham Holdings' Q1 Adjusted Earnings, Revenue Rise
May 25, 2025
09:05 AM EDT, 04/30/2025 (MT Newswires) -- Graham Holdings ( GHC ) reported Q1 adjusted earnings Wednesday of $11.64 per diluted share, up from $11.24 a year earlier. Operating revenue for the quarter ended March 31 was $1.17 billion compared with $1.15 billion a year earlier. An analyst surveyed by FactSet expected $1.20 billion. ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved