Financial Management Network Inc. Sells 1,685 Shares of The Boeing Company (NYSE:BA)

Financial Management Network Inc. lessened its position in The Boeing Company (NYSE:BA) by 26.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,751 shares of the aircraft producer’s stock after selling 1,685 shares during the period. Financial Management Network Inc.’s holdings in Boeing were worth $807,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of Boeing by 30.0% during the 4th quarter. Global Retirement Partners LLC now owns 22,852 shares of the aircraft producer’s stock valued at $4,045,000 after purchasing an additional 5,271 shares in the last quarter. Allied Investment Advisors LLC bought a new stake in shares of Boeing during the 4th quarter valued at about $343,000. Bank of Jackson Hole Trust bought a new stake in shares of Boeing during the 4th quarter valued at about $64,000. New York State Common Retirement Fund boosted its stake in shares of Boeing by 35.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,003,148 shares of the aircraft producer’s stock valued at $177,557,000 after purchasing an additional 260,054 shares in the last quarter. Finally, Callahan Advisors LLC bought a new stake in shares of Boeing during the 4th quarter valued at about $686,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Susquehanna lifted their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, January 29th. Finally, Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Boeing Stock Performance

Shares of NYSE:BA opened at $184.73 on Wednesday. The firm has a fifty day moving average price of $175.92 and a 200 day moving average price of $164.05. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $208.10. The firm has a market cap of $138.56 billion, a price-to-earnings ratio of -10.08 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) EPS. As a group, research analysts predict that The Boeing Company will post -2.3 earnings per share for the current year.

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.