The Boeing Company (NYSE:BA) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in The Boeing Company (NYSE:BA) by 25.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,422 shares of the aircraft producer’s stock after selling 1,517 shares during the quarter. King Luther Capital Management Corp’s holdings in Boeing were worth $805,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the 4th quarter worth $26,000. Vima LLC purchased a new position in shares of Boeing during the fourth quarter worth about $34,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth about $34,000. McClarren Financial Advisors Inc. increased its position in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the period. Finally, Accent Capital Management LLC acquired a new position in Boeing during the fourth quarter worth approximately $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BA shares. Bank of America raised 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. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Robert W. Baird decreased their target price 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 lowered their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Boeing Stock Performance

Boeing stock opened at $153.29 on Monday. The company has a market cap of $94.10 billion, a P/E ratio of -43.18 and a beta of 1.57. The Boeing Company has a one year low of $152.60 and a one year high of $267.54. The business has a fifty day moving average of $171.21 and a two-hundred day moving average of $177.41.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the business earned ($0.82) EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -4.26 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.