AQR Capital Management LLC Trims Stake in The Boeing Company (NYSE:BA)

AQR Capital Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 81.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,055 shares of the aircraft producer’s stock after selling 118,205 shares during the quarter. AQR Capital Management LLC’s holdings in Boeing were worth $4,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the 2nd quarter valued at $33,000. Vima LLC acquired a new position in Boeing during the 4th quarter worth about $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. grew its position in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of BA stock opened at $155.00 on Friday. The Boeing Company has a 1 year low of $149.49 and a 1 year high of $267.54. The firm has a market cap of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57. The stock’s 50-day moving average is $165.48 and its two-hundred day moving average is $175.15.

Boeing (NYSE:BA) last released 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. During the same quarter in the previous year, the company earned ($0.82) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts predict that The Boeing Company will post -4.27 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BA shares. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Bank of America raised their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Sanford C. Bernstein cut their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.00.

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.