Neville Rodie & Shaw Inc. trimmed its position in The Boeing Company (NYSE:BA – Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,397 shares of the aircraft producer’s stock after selling 70 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Boeing were worth $1,840,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.2% in 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. State Street Corp raised its holdings in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Boeing by 1.4% during 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 holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $192.21.
Boeing Stock Performance
Shares of Boeing stock traded up $1.91 during mid-day trading on Monday, hitting $171.81. 5,088,179 shares of the stock were exchanged, compared to its average volume of 9,182,282. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $233.85. The company has a 50-day simple moving average of $159.43 and a 200 day simple moving average of $165.34. The company has a market capitalization of $106.21 billion, a P/E ratio of -13.32 and a beta of 1.52.
Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.18 EPS for the current year.
Boeing 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.
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