The Boeing Company (NYSE:BA) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its position in shares of The Boeing Company (NYSE:BA) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,321 shares of the aircraft producer’s stock after selling 1,758 shares during the quarter. NewEdge Advisors LLC’s holdings in Boeing were worth $10,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BA. Capital Research Global Investors grew its position in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Boeing by 23.7% during the fourth 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 purchasing an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Boeing in the 1st quarter valued at approximately $272,312,000. Finally, Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% during 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 during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BA. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 target price (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Bank of America lifted their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Trading Down 2.7 %

Shares of Boeing stock opened at $152.03 on Tuesday. The Boeing Company has a 12 month low of $151.24 and a 12 month high of $267.54. The company has a market capitalization of $93.33 billion, a PE ratio of -42.83 and a beta of 1.57. The stock’s fifty day simple moving average is $167.99 and its 200 day simple moving average is $175.90.

Boeing (NYSE:BA) last posted 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 analyst estimates of $17.35 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.82) earnings per share. Analysts predict that The Boeing Company will post -4.27 EPS for the current fiscal year.

Boeing 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.