Lake Street Private Wealth LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Lake Street Private Wealth LLC lessened its position in The Boeing Company (NYSE:BA) by 75.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,999 shares of the aircraft producer’s stock after selling 12,330 shares during the period. Lake Street Private Wealth LLC’s holdings in Boeing were worth $772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BA. Capital Research Global Investors grew its position in shares of Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Jennison Associates LLC bought a new stake in Boeing in the fourth quarter valued at $960,397,000. Wellington Management Group LLP raised its holdings in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Finally, Boston Partners boosted its stake in shares of Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BA. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Bank of America upped their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Sanford C. Bernstein decreased their price target on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Finally, Susquehanna reissued a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Stock Performance

BA opened at $184.31 on Thursday. The company’s 50-day simple moving average is $179.14 and its two-hundred day simple moving average is $197.01. The stock has a market capitalization of $113.14 billion, a P/E ratio of -51.92 and a beta of 1.56. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. Research analysts forecast that The Boeing Company will post -1.67 EPS for the current fiscal 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.