Commonwealth Equity Services LLC Lowers Position in The Boeing Company (NYSE:BA)

Commonwealth Equity Services LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 5.7% during the third quarter, Holdings Channel.com reports. The fund owned 405,722 shares of the aircraft producer’s stock after selling 24,409 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Boeing were worth $61,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BA. Park Avenue Securities LLC boosted its stake in shares of Boeing by 20.7% in the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after buying an additional 1,805 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in Boeing by 5.4% during the first quarter. Gulf International Bank UK Ltd now owns 3,701 shares of the aircraft producer’s stock worth $714,000 after acquiring an additional 188 shares during the period. &PARTNERS boosted its position in Boeing by 110.7% in the first quarter. &PARTNERS now owns 3,589 shares of the aircraft producer’s stock worth $682,000 after purchasing an additional 1,886 shares during the last quarter. Traynor Capital Management Inc. grew its stake in Boeing by 2.5% in the 1st quarter. Traynor Capital Management Inc. now owns 49,084 shares of the aircraft producer’s stock valued at $9,473,000 after purchasing an additional 1,179 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in shares of Boeing during the 1st quarter valued at $272,312,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BA. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna dropped their price objective on Boeing from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.79.

Boeing Price Performance

BA opened at $155.00 on Friday. The firm has a market capitalization of $95.15 billion, a P/E ratio of -43.66 and a beta of 1.57. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The company has a fifty day moving average price of $161.10 and a 200-day moving average price of $172.53.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share 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 quarter in the prior year, the company earned ($0.82) EPS. The firm’s revenue was down 14.6% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

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.