McBroom & Associates LLC Sells 508 Shares of The Boeing Company (NYSE:BA)

McBroom & Associates LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,070 shares of the aircraft producer’s stock after selling 508 shares during the quarter. Boeing accounts for approximately 2.1% of McBroom & Associates LLC’s holdings, making the stock its 19th biggest holding. McBroom & Associates LLC’s holdings in Boeing were worth $3,508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BA. Vanguard Group Inc. increased 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 valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC boosted its stake in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC raised its position in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares during the period. Finally, Legal & General Group Plc lifted its stake in Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the topic of a number of analyst reports. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Jefferies Financial Group reduced their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. dropped their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, Susquehanna decreased their price objective on Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $198.79.

Boeing Trading Down 0.2 %

Shares of Boeing stock opened at $155.00 on Friday. The firm’s 50 day simple moving average is $161.10 and its two-hundred day simple moving average is $172.53. The firm has a market capitalization of $95.15 billion, a price-to-earnings ratio of -43.66 and a beta of 1.57. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -5.35 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.