Profund Advisors LLC Sells 241 Shares of The Boeing Company (NYSE:BA)

Profund Advisors LLC reduced its stake in The Boeing Company (NYSE:BA) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,428 shares of the aircraft producer’s stock after selling 241 shares during the quarter. Profund Advisors LLC’s holdings in Boeing were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC lifted its position in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Capital Research Global Investors lifted its position in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Bank of America upped their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 target price (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, Susquehanna reiterated a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Down 0.8 %

Shares of Boeing stock opened at $153.29 on Monday. The firm has a market cap of $94.10 billion, a price-to-earnings ratio of -43.18 and a beta of 1.57. The business has a 50-day moving average price of $171.21 and a 200-day moving average price of $177.41. The Boeing Company has a twelve month low of $152.60 and a twelve month high of $267.54.

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