Ballentine Partners LLC Reduces Stock Position in The Boeing Company (NYSE:BA)

Ballentine Partners LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,534 shares of the aircraft producer’s stock after selling 1,050 shares during the quarter. Ballentine Partners LLC’s holdings in Boeing were worth $689,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BA. International Assets Investment Management LLC boosted its holdings in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Van ECK Associates Corp lifted its stake in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after purchasing an additional 1,015,542 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Boeing by 14.1% in the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $155.01 on Friday. The firm has a fifty day moving average price of $159.68 and a 200 day moving average price of $171.66. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm has a market cap of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analysts’ expectations of $17.81 billion. During the same period in the previous year, the business posted ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BA shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus raised their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.79.

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.