The Boeing Company (NYSE:BA) Shares Sold by Greenleaf Trust

Greenleaf Trust cut its stake in The Boeing Company (NYSE:BA) by 15.1% in the third quarter, Holdings Channel reports. The fund owned 8,637 shares of the aircraft producer’s stock after selling 1,541 shares during the period. Greenleaf Trust’s holdings in Boeing were worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BA. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the 2nd quarter worth $33,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing during the 2nd quarter worth $34,000. McClarren Financial Advisors Inc. grew its holdings in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Boeing during the 2nd quarter worth $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Robert W. Baird decreased their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price target on Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Price Performance

BA opened at $155.19 on Friday. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm’s fifty day moving average price is $160.61 and its two-hundred day moving average price is $172.01. The company has a market capitalization of $95.27 billion, a P/E ratio of -43.72 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 ($4.85) by ($5.59). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that The Boeing Company will post -5.35 EPS for the current fiscal year.

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.