Brookstone Capital Management Sells 201 Shares of The Boeing Company (NYSE:BA)

Brookstone Capital Management trimmed its stake in shares of The Boeing Company (NYSE:BA) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,592 shares of the aircraft producer’s stock after selling 201 shares during the quarter. Brookstone Capital Management’s holdings in Boeing were worth $1,875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Newport Trust Company LLC increased its stake in Boeing by 1.2% in 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 acquiring an additional 388,633 shares during the last quarter. State Street Corp increased its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Geode Capital Management LLC increased its stake in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the last quarter. Jennison Associates LLC increased its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

NYSE BA opened at $166.25 on Thursday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The stock has a 50 day simple moving average of $162.02 and a two-hundred day simple moving average of $164.97. The stock has a market cap of $102.78 billion, a P/E ratio of -12.89 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen decreased their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Finally, Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $192.21.

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.