Dakota Wealth Management Sells 2,164 Shares of The Boeing Company (NYSE:BA)

Dakota Wealth Management lowered its stake in The Boeing Company (NYSE:BA) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,222 shares of the aircraft producer’s stock after selling 2,164 shares during the period. Dakota Wealth Management’s holdings in Boeing were worth $1,455,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc increased its position in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the period. Carnegie Investment Counsel increased its position in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares during the period. Principal Financial Group Inc. boosted its stake in Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BA shares. JPMorgan Chase & Co. reduced their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Finally, TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

Shares of BA stock opened at $178.34 on Friday. The company has a market cap of $110.25 billion, a P/E ratio of -13.82 and a beta of 1.52. The stock has a 50 day simple moving average of $164.90 and a two-hundred day simple moving average of $164.53. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59.

Boeing (NYSE:BA) last issued 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 business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($3.26) EPS. On average, research analysts predict that The Boeing Company will post -16.36 earnings per share for the current year.

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.