The Boeing Company (NYSE:BA) Stake Lessened by Ascension Asset Management LLC

Ascension Asset Management LLC decreased its holdings in shares of The Boeing Company (NYSE:BA) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,365 shares of the aircraft producer’s stock after selling 305 shares during the quarter. Ascension Asset Management LLC’s holdings in Boeing were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Newport Trust Company LLC grew its position in Boeing by 1.2% during 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 in the last quarter. Capital Research Global Investors increased its stake in Boeing by 35.5% in the 4th 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 period. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 1,884,850 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Boeing by 1.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.1 %

Shares of BA stock opened at $156.32 on Friday. The firm 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. The firm’s fifty day simple moving average is $168.52 and its 200 day simple moving average is $176.15.

Boeing (NYSE:BA) last posted 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 for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts anticipate that The Boeing Company will post -4.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $119.00 price target (down from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Sanford C. Bernstein dropped their target price on 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 reduced their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Bank of America increased their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.83.

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.