The Boeing Company (NYSE:BA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in The Boeing Company (NYSE:BA) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,064 shares of the aircraft producer’s stock after selling 25,245 shares during the period. Federated Hermes Inc.’s holdings in Boeing were worth $16,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Boeing in the 4th quarter valued at $26,000. Vima LLC acquired a new stake in shares of Boeing during the 4th quarter worth about $34,000. Accent Capital Management LLC acquired a new position in Boeing in the fourth quarter valued at approximately $39,000. Frank Rimerman Advisors LLC purchased a new position in Boeing in the fourth quarter valued at approximately $48,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Boeing during the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. UBS Group decreased their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein cut their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $119.00 target price (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Finally, Susquehanna reiterated a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Boeing Price Performance

Shares of BA opened at $155.54 on Tuesday. The Boeing Company has a 1-year low of $154.02 and a 1-year high of $267.54. The firm has a 50 day simple moving average of $173.49 and a 200-day simple moving average of $178.70. The stock has a market cap of $95.48 billion, a price-to-earnings ratio of -43.81 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. On average, equities analysts expect that The Boeing Company will post -4.26 earnings per share for the current fiscal 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.