ASB Consultores LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

ASB Consultores LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 29.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,686 shares of the aircraft producer’s stock after selling 1,565 shares during the quarter. ASB Consultores LLC’s holdings in Boeing were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Sanders Morris Harris LLC boosted its stake in Boeing by 869.1% during the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after purchasing an additional 20,425 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after purchasing an additional 1,805 shares during the last quarter. Williams Financial LLC acquired a new stake in Boeing during the 2nd quarter worth $1,637,000. Granite Bay Wealth Management LLC acquired a new stake in Boeing during the 2nd quarter worth $561,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Boeing by 115.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after purchasing an additional 7,848 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $154.55 on Friday. The company’s 50 day moving average price is $171.80 and its 200 day moving average price is $178.07. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The firm has a market capitalization of $94.88 billion, a price-to-earnings ratio of -43.54 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.82) earnings per share. Equities analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on BA shares. Sanford C. Bernstein lowered their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Robert W. Baird lowered their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Three equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.