Cullen Frost Bankers Inc. Sells 397 Shares of The Boeing Company (NYSE:BA)

Cullen Frost Bankers Inc. decreased its position in shares of The Boeing Company (NYSE:BA) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,117 shares of the aircraft producer’s stock after selling 397 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Boeing were worth $3,479,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its holdings in shares of Boeing by 2.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock valued at $661,000 after buying an additional 50 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Boeing by 1.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock valued at $1,094,000 after purchasing an additional 50 shares during the last quarter. Davis R M Inc. raised its stake in shares of Boeing by 1.8% in the fourth quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after purchasing an additional 52 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of Boeing by 1.6% in the fourth quarter. Westpac Banking Corp now owns 3,336 shares of the aircraft producer’s stock valued at $870,000 after purchasing an additional 54 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Boeing by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock valued at $3,895,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 2.8 %

BA stock opened at $157.62 on Friday. The Boeing Company has a 1-year low of $156.70 and a 1-year high of $267.54. The stock has a market cap of $96.76 billion, a price-to-earnings ratio of -44.40 and a beta of 1.57. The company’s 50 day moving average is $176.53 and its 200 day moving average is $180.65.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS 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. During the same quarter last year, the firm earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BA. Sanford C. Bernstein lowered their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Robert W. Baird dropped their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, UBS Group decreased their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.