Graypoint LLC Sells 254 Shares of The Boeing Company (NYSE:BA)

Graypoint LLC lowered its holdings in The Boeing Company (NYSE:BA) by 11.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,916 shares of the aircraft producer’s stock after selling 254 shares during the period. Graypoint LLC’s holdings in Boeing were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BA. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter worth about $34,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Boeing in the 2nd quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC bought a new stake in Boeing during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley cut their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Performance

Shares of NYSE:BA opened at $151.68 on Friday. The company has a 50 day moving average price of $155.31 and a two-hundred day moving average price of $170.34. The company has a market capitalization of $93.77 billion, a PE ratio of -11.76 and a beta of 1.57. The Boeing Company has a 52 week low of $144.13 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.26) EPS. On average, sell-side analysts forecast that The Boeing Company will post -16.09 earnings per share for the current 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.