Bryn Mawr Capital Management LLC Trims Stake in The Boeing Company (NYSE:BA)

Bryn Mawr Capital Management LLC decreased its position in shares of The Boeing Company (NYSE:BA) by 94.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,697 shares of the aircraft producer’s stock after selling 75,232 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Boeing were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing in the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing in the 4th quarter valued at approximately $28,000. Vima LLC bought a new position in Boeing in the 4th quarter valued at approximately $34,000. Accent Capital Management LLC bought a new position in Boeing in the 4th quarter valued at approximately $39,000. Finally, Frank Rimerman Advisors LLC bought a new position in Boeing in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.9 %

Shares of NYSE:BA opened at $173.74 on Friday. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The company has a 50-day moving average price of $178.13 and a 200 day moving average price of $182.21. The company has a market cap of $106.66 billion, a price-to-earnings ratio of -48.94 and a beta of 1.56.

Boeing (NYSE:BA) last announced 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 business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.82) earnings per share. As a group, equities analysts forecast that The Boeing Company will post -2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BA shares. Bank of America upped their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Wells Fargo & Company lowered their price objective on Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group lowered their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.18.

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.