Carnegie Lake Advisors LLC Lowers Stake in The Boeing Company (NYSE:BA)

Carnegie Lake Advisors LLC cut its position in shares of The Boeing Company (NYSE:BA) by 38.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,936 shares of the aircraft producer’s stock after selling 4,290 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Boeing were worth $1,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. boosted its position in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the period. State Street Corp increased its holdings in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its position 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 purchasing an additional 602,143 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Susquehanna increased their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two equities 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $195.16.

Boeing Price Performance

Shares of NYSE:BA opened at $180.58 on Tuesday. The stock’s 50 day moving average price is $172.22 and its 200 day moving average price is $164.02. The stock has a market cap of $135.45 billion, a price-to-earnings ratio of -9.86 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $209.80.

Boeing (NYSE:BA) last announced its earnings results 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 quarter last year, the company earned ($0.47) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -2.3 EPS 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.