TD Asset Management Inc Sells 115,026 Shares of The Boeing Company (NYSE:BA)

TD Asset Management Inc lowered its holdings in The Boeing Company (NYSE:BA) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 264,318 shares of the aircraft producer’s stock after selling 115,026 shares during the quarter. TD Asset Management Inc’s holdings in Boeing were worth $48,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BA. Brio Consultants LLC bought a new stake in shares of Boeing in the 4th quarter valued at about $207,000. Van ECK Associates Corp raised its stake in shares of Boeing by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 3,426 shares of the aircraft producer’s stock worth $893,000 after acquiring an additional 357 shares in the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $258,000. E Fund Management Co. Ltd. bought a new position in shares of Boeing during the 4th quarter worth approximately $200,000. Finally, Principal Securities Inc. bought a new position in shares of Boeing during the 4th quarter worth approximately $1,940,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BA shares. Robert W. Baird reduced their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. UBS Group reduced their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Bank of America boosted their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Finally, Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Price Performance

BA stock opened at $157.65 on Friday. The firm’s fifty day simple moving average is $176.53 and its 200-day simple moving average is $180.81. The company has a market capitalization of $96.78 billion, a P/E ratio of -44.41 and a beta of 1.56. The Boeing Company has a 12 month low of $156.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.82) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 earnings per share for the current 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.