Advisors Asset Management Inc. Trims Stock Holdings in The Boeing Company (NYSE:BA)

Advisors Asset Management Inc. reduced its stake in shares of The Boeing Company (NYSE:BA) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,737 shares of the aircraft producer’s stock after selling 818 shares during the period. Advisors Asset Management Inc.’s holdings in Boeing were worth $2,545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BA. LRI Investments LLC purchased a new position in shares of Boeing during the 1st quarter valued at $136,000. Transcendent Capital Group LLC lifted its position in shares of Boeing by 46.0% in the first quarter. Transcendent Capital Group LLC now owns 365 shares of the aircraft producer’s stock valued at $70,000 after acquiring an additional 115 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Boeing by 5.8% in the first quarter. Earnest Partners LLC now owns 2,106 shares of the aircraft producer’s stock worth $406,000 after acquiring an additional 116 shares during the period. Waverly Advisors LLC grew its position in shares of Boeing by 37.2% during the first quarter. Waverly Advisors LLC now owns 11,649 shares of the aircraft producer’s stock worth $2,248,000 after purchasing an additional 3,160 shares in the last quarter. Finally, Kodai Capital Management LP raised its stake in Boeing by 24.5% during the 1st quarter. Kodai Capital Management LP now owns 92,496 shares of the aircraft producer’s stock valued at $17,851,000 after purchasing an additional 18,174 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $149.29 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The company has a market cap of $92.29 billion, a price-to-earnings ratio of -11.57 and a beta of 1.57. The business’s 50 day moving average price is $151.70 and its 200-day moving average price is $168.36.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted ($3.26) EPS. Sell-side analysts predict that The Boeing Company will post -16.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Robert W. Baird reduced their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Hold” and an average target price of $190.37.

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.