The Boeing Company (NYSE:BA) Shares Sold by Cacti Asset Management LLC

Cacti Asset Management LLC decreased its position in The Boeing Company (NYSE:BA) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 215,444 shares of the aircraft producer’s stock after selling 4,975 shares during the quarter. Boeing comprises about 2.9% of Cacti Asset Management LLC’s holdings, making the stock its 13th largest position. Cacti Asset Management LLC’s holdings in Boeing were worth $38,037,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BA. IMS Capital Management increased its stake in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares during the period. Peoples Financial Services CORP. increased its holdings in Boeing by 0.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after purchasing an additional 67 shares in the last quarter. Altus Wealth Group LLC raised its position in Boeing by 5.7% in the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after purchasing an additional 71 shares during the last quarter. Hancock Whitney Corp boosted its stake in shares of Boeing by 1.0% during the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after purchasing an additional 72 shares in the last quarter. Finally, Kowal Investment Group LLC increased its stake in shares of Boeing by 4.3% in the third quarter. Kowal Investment Group LLC now owns 1,758 shares of the aircraft producer’s stock valued at $267,000 after buying an additional 72 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of Boeing stock traded down $6.66 during trading on Thursday, hitting $170.34. The company’s stock had a trading volume of 6,404,315 shares, compared to its average volume of 9,357,763. The company has a fifty day simple moving average of $158.80 and a two-hundred day simple moving average of $165.49. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $250.19. The company has a market capitalization of $105.30 billion, a PE ratio of -13.20 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted ($3.26) earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, analysts predict that The Boeing Company will post -16.18 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BA shares. UBS Group cut their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $191.16.

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.