Raab & Moskowitz Asset Management LLC Reduces Stake in The Boeing Company (NYSE:BA)

Raab & Moskowitz Asset Management LLC decreased its stake in The Boeing Company (NYSE:BA) by 2.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,535 shares of the aircraft producer’s stock after selling 265 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Boeing were worth $1,918,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC increased its stake in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the period. Capital Research Global Investors raised its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Boeing by 23.7% during the fourth 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 buying an additional 1,884,850 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird decreased their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Sanford C. Bernstein lowered their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $209.83.

Boeing Price Performance

Shares of Boeing stock opened at $156.32 on Friday. The business has a 50 day moving average price of $168.52 and a 200 day moving average price of $176.20. The company has a market capitalization of $95.96 billion, a P/E ratio of -44.03 and a beta of 1.57. The Boeing Company has a 1 year low of $151.65 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) EPS. As a group, research analysts expect that The Boeing Company will post -4.27 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.