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

Modus Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,932 shares of the aircraft producer’s stock after selling 728 shares during the quarter. Modus Advisors LLC’s holdings in Boeing were worth $1,662,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BA. Vanguard Group Inc. lifted its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC raised its stake in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after acquiring an additional 518,952 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 0.8 %

Shares of NYSE BA traded down $1.16 during mid-day trading on Thursday, hitting $148.21. The company had a trading volume of 4,472,894 shares, compared to its average volume of 8,005,080. The company has a market capitalization of $90.98 billion, a price-to-earnings ratio of -41.79 and a beta of 1.57. The Boeing Company has a 1 year low of $147.42 and a 1 year high of $267.54. The stock’s 50-day moving average price is $163.42 and its 200-day moving average price is $174.42.

Boeing (NYSE:BA) last posted 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 company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -4.27 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on BA shares. Bank of America lifted their target price on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company lowered their price target on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut 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. Finally, Stifel Nicolaus increased their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven 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 MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Boeing Company 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.