The Boeing Company (NYSE:BA) Holdings Cut by abrdn plc

abrdn plc reduced its stake in The Boeing Company (NYSE:BA) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,602 shares of the aircraft producer’s stock after selling 3,581 shares during the period. abrdn plc’s holdings in Boeing were worth $46,615,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BA. Paul R. Ried Financial Group LLC acquired a new position in shares of Boeing during the fourth quarter worth approximately $2,748,000. Alliance Wealth Advisors LLC UT raised its stake in Boeing by 152.8% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,560 shares of the aircraft producer’s stock valued at $807,000 after acquiring an additional 2,756 shares in the last quarter. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Boeing in the fourth quarter worth $205,000. Optas LLC increased its holdings in shares of Boeing by 46.9% during the fourth quarter. Optas LLC now owns 2,088 shares of the aircraft producer’s stock valued at $370,000 after purchasing an additional 667 shares during the period. Finally, Financial Life Planners bought a new stake in shares of Boeing during the fourth quarter valued at about $49,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on BA. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup lowered their price target on Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Boeing Price Performance

Boeing stock opened at $176.40 on Wednesday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $213.77. The firm’s 50 day simple moving average is $169.95 and its 200-day simple moving average is $164.02. The company has a market cap of $109.05 billion, a P/E ratio of -9.63 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the firm posted ($0.47) EPS. On average, analysts expect that The Boeing Company will post -2.12 EPS for the current fiscal 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.