Victory Capital Management Inc. Sells 4,347 Shares of The Boeing Company (NYSE:BA)

Victory Capital Management Inc. lowered its stake in The Boeing Company (NYSE:BA) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 180,137 shares of the aircraft producer’s stock after selling 4,347 shares during the quarter. Victory Capital Management Inc.’s holdings in Boeing were worth $27,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Davis R M Inc. raised its holdings in Boeing by 2.9% during the first quarter. Davis R M Inc. now owns 3,029 shares of the aircraft producer’s stock valued at $585,000 after acquiring an additional 86 shares during the period. Rockport Wealth LLC bought a new stake in Boeing during the 1st quarter valued at approximately $416,000. UniSuper Management Pty Ltd lifted its holdings in Boeing by 180.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,542 shares of the aircraft producer’s stock worth $2,420,000 after purchasing an additional 8,070 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Boeing in the 1st quarter worth approximately $228,000. Finally, Burgundy Asset Management Ltd. grew its holdings in Boeing by 42.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 50,000 shares of the aircraft producer’s stock valued at $9,650,000 after buying an additional 15,000 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BA has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Jefferies Financial Group cut their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Performance

BA opened at $140.19 on Monday. The Boeing Company has a one year low of $137.03 and a one year high of $267.54. The stock has a market cap of $86.67 billion, a price-to-earnings ratio of -10.87 and a beta of 1.57. The stock’s 50 day moving average price is $153.20 and its 200-day moving average price is $169.44.

Boeing (NYSE:BA) last released 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 business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted ($3.26) EPS. As a group, analysts predict that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

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.