Bristlecone Advisors LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Bristlecone Advisors LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,007 shares of the aircraft producer’s stock after selling 70 shares during the period. Bristlecone Advisors LLC’s holdings in Boeing were worth $709,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BA. Sugar Maple Asset Management LLC purchased a new stake in shares of Boeing during the fourth quarter valued at about $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the third quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of Boeing during the fourth quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the third quarter valued at about $30,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $33,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BA shares. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Stock Performance

BA opened at $180.58 on Tuesday. The business’s fifty day moving average is $172.22 and its two-hundred day moving average is $164.02. The company has a market cap of $135.45 billion, a price-to-earnings ratio of -9.86 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $209.80.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. On average, analysts predict that The Boeing Company will post -2.3 EPS for the current fiscal year.

About Boeing

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.