Comerica Bank Decreases Position in The Boeing Company (NYSE:BA)

Comerica Bank lessened its holdings in shares of The Boeing Company (NYSE:BA) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,123 shares of the aircraft producer’s stock after selling 9,294 shares during the period. Comerica Bank’s holdings in Boeing were worth $25,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BA. Strategic Blueprint LLC raised its stake in Boeing by 8.7% in the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Boeing by 41.5% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,761 shares of the aircraft producer’s stock worth $4,108,000 after acquiring an additional 4,622 shares during the last quarter. Orca Investment Management LLC raised its stake in Boeing by 5.5% in the 4th quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after acquiring an additional 195 shares during the last quarter. One Charles Private Wealth Services LLC purchased a new position in Boeing in the 4th quarter worth $205,000. Finally, J.W. Cole Advisors Inc. grew its position in Boeing by 5.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock worth $7,594,000 after purchasing an additional 1,596 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. Robert W. Baird cut their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Barclays cut their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research report on Wednesday, April 17th. Finally, Bank of America raised their target price on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $217.41.

Boeing Trading Down 6.0 %

Boeing stock traded down $11.45 during trading on Thursday, hitting $179.15. The company had a trading volume of 8,196,052 shares, compared to its average volume of 8,152,063. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The company’s 50 day simple moving average is $181.84 and its 200-day simple moving average is $187.77. The stock has a market cap of $109.98 billion, a price-to-earnings ratio of -50.71 and a beta of 1.56.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.82) EPS. As a group, analysts forecast that The Boeing Company will post -2.27 earnings per share for the current fiscal year.

Boeing Profile

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.