Hsbc Holdings PLC Sells 337,318 Shares of The Boeing Company (NYSE:BA)

Hsbc Holdings PLC lowered its position in shares of The Boeing Company (NYSE:BA) by 18.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,448,543 shares of the aircraft producer’s stock after selling 337,318 shares during the quarter. Hsbc Holdings PLC’s holdings in Boeing were worth $263,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter worth approximately $26,000. Vima LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $34,000. Accent Capital Management LLC purchased a new stake in shares of Boeing in the 4th quarter valued at $39,000. Frank Rimerman Advisors LLC bought a new position in shares of Boeing during the 4th quarter valued at $48,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.5 %

NYSE:BA opened at $156.38 on Wednesday. The Boeing Company has a 52 week low of $154.02 and a 52 week high of $267.54. The stock has a market cap of $96.00 billion, a price-to-earnings ratio of -44.05 and a beta of 1.57. The company’s 50 day moving average price is $172.95 and its 200-day moving average price is $178.39.

Boeing (NYSE:BA) last posted its earnings results 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 business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm posted ($0.82) earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Robert W. Baird dropped their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Sanford C. Bernstein cut their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Company 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.