Intech Investment Management LLC Has $25 Million Holdings in The Boeing Company (NYSE:BA)

Intech Investment Management LLC reduced its holdings in The Boeing Company (NYSE:BA) by 29.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,355 shares of the aircraft producer’s stock after selling 56,834 shares during the quarter. Intech Investment Management LLC’s holdings in Boeing were worth $25,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brio Consultants LLC acquired a new position in Boeing during the 4th quarter worth $207,000. Gryphon Financial Partners LLC acquired a new position in Boeing during the 4th quarter worth $258,000. Franklin Resources Inc. lifted its holdings in Boeing by 3.6% during the 4th quarter. Franklin Resources Inc. now owns 38,330 shares of the aircraft producer’s stock worth $9,991,000 after buying an additional 1,325 shares in the last quarter. InterOcean Capital Group LLC lifted its holdings in Boeing by 3.7% during the 4th quarter. InterOcean Capital Group LLC now owns 5,379 shares of the aircraft producer’s stock worth $1,402,000 after buying an additional 194 shares in the last quarter. Finally, Tidemark LLC acquired a new position in Boeing during the 4th quarter worth $100,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Robert W. Baird cut their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price target (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. UBS Group cut their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Trading Down 0.4 %

BA stock opened at $154.55 on Friday. The stock has a 50-day moving average price of $171.80 and a two-hundred day moving average price of $178.07. The stock has a market cap of $94.88 billion, a PE ratio of -43.54 and a beta of 1.57. The Boeing Company has a 1 year low of $154.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate 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. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.82) EPS. On average, analysts forecast that The Boeing Company will post -4.26 earnings per share 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.