CX Institutional Lowers Stock Position in The Boeing Company (NYSE:BA)

CX Institutional lessened its stake in The Boeing Company (NYSE:BA) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,590 shares of the aircraft producer’s stock after selling 777 shares during the period. CX Institutional’s holdings in Boeing were worth $698,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BA. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the second quarter valued at $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. raised its holdings in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing in the second quarter worth approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Sanford C. Bernstein lowered their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday. The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Boeing Stock Up 1.6 %

Shares of BA stock opened at $154.86 on Thursday. The business’s fifty day moving average is $161.63 and its 200 day moving average is $173.00. The stock has a market cap of $95.07 billion, a price-to-earnings ratio of -43.62 and a beta of 1.57. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the firm posted ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.