Pitcairn Co. Sells 588 Shares of The Boeing Company (NYSE:BA)

Pitcairn Co. trimmed its position in shares of The Boeing Company (NYSE:BA) by 20.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,253 shares of the aircraft producer’s stock after selling 588 shares during the quarter. Pitcairn Co.’s holdings in Boeing were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC boosted its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Legal & General Group Plc grew its position in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Boeing by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after purchasing an additional 48,637 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $150.72 on Wednesday. The firm has a fifty day moving average of $151.53 and a 200 day moving average of $167.88. The firm has a market cap of $93.18 billion, a PE ratio of -11.68 and a beta of 1.57. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that The Boeing Company will post -16.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BA shares. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. UBS Group cut 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. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.11.

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.