The Boeing Company (NYSE:BA) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 19.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,119 shares of the aircraft producer’s stock after selling 41,337 shares during the period. ProShare Advisors LLC’s holdings in Boeing were worth $32,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing during the 4th quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new stake in shares of Boeing during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Boeing in the 4th quarter valued at $28,000. Vima LLC acquired a new stake in Boeing during the 4th quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. raised its position in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

BA traded down $1.21 during trading hours on Wednesday, reaching $184.84. The company’s stock had a trading volume of 4,887,733 shares, compared to its average volume of 8,281,624. The stock has a market cap of $113.47 billion, a PE ratio of -52.37 and a beta of 1.56. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The business’s 50-day moving average is $181.40 and its 200-day moving average is $191.55.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Analysts expect that The Boeing Company will post -1.75 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of several analyst reports. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a report on Wednesday, April 17th. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Bank of America increased their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. TD Cowen lowered their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Finally, Melius Research reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

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.