The Boeing Company (NYSE:BA) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC lowered its position in The Boeing Company (NYSE:BA) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,077 shares of the aircraft producer’s stock after selling 102 shares during the period. Bristlecone Advisors LLC’s holdings in Boeing were worth $620,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in 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 purchasing an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC raised its stake in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Jennison Associates LLC grew its stake in Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the period. Finally, Legal & General Group Plc increased its holdings in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.1 %

Shares of BA opened at $155.01 on Monday. The company’s 50-day moving average price is $159.68 and its 200 day moving average price is $171.64. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54. The firm has a market cap of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) earnings per share. Equities research analysts forecast that The Boeing Company will post -5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BA. UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their target price 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 dropped their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.79.

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.