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

Modus Advisors LLC reduced its position in The Boeing Company (NYSE:BA) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,932 shares of the aircraft producer’s stock after selling 728 shares during the period. Modus Advisors LLC’s holdings in Boeing were worth $1,662,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Boeing by 563.9% in 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 raised its stake in Boeing by 23.7% in 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 buying an additional 1,884,850 shares during the period. Global Assets Advisory LLC bought a new position in shares of Boeing during the first quarter worth approximately $272,312,000. Vanguard Group Inc. grew its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Down 0.8 %

Shares of NYSE BA traded down $1.16 during trading on Thursday, hitting $148.21. The company had a trading volume of 4,472,894 shares, compared to its average volume of 8,005,080. The stock has a fifty day simple moving average of $163.42 and a two-hundred day simple moving average of $174.42. The firm has a market capitalization of $90.98 billion, a price-to-earnings ratio of -41.79 and a beta of 1.57. The Boeing Company has a fifty-two week low of $147.42 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the business earned ($0.82) earnings per share. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -4.27 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on BA shares. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. TD Cowen cut their target price on shares of Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Sanford C. Bernstein cut their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

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.