Ferguson Wellman Capital Management Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Ferguson Wellman Capital Management Inc. lowered its stake in The Boeing Company (NYSE:BA) by 34.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,960 shares of the aircraft producer’s stock after selling 4,245 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Boeing were worth $1,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in Boeing during the 4th quarter valued at $28,000. Evolution Advisers Inc. bought a new stake in Boeing in the 4th quarter worth $28,000. Vima LLC purchased a new position in shares of Boeing in the fourth quarter valued at about $34,000. Finally, Accent Capital Management LLC bought a new position in shares of Boeing during the fourth quarter valued at about $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA traded down $0.42 during trading on Wednesday, hitting $168.34. The company’s stock had a trading volume of 2,469,899 shares, compared to its average volume of 8,076,015. The company has a 50-day moving average of $180.27 and a 200-day moving average of $184.99. The firm has a market cap of $103.34 billion, a price-to-earnings ratio of -47.44 and a beta of 1.56. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm posted ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts anticipate that The Boeing Company will post -2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BA. Royal Bank of Canada reduced their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Sanford C. Bernstein decreased their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Susquehanna reaffirmed a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $215.18.

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.