Patron Partners LLC Lowers Stake in The Boeing Company (NYSE:BA)

Patron Partners LLC lowered its holdings in shares of The Boeing Company (NYSE:BA) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,546 shares of the aircraft producer’s stock after selling 68 shares during the period. Patron Partners LLC’s holdings in Boeing were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its holdings in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Boston Partners lifted its position in Boeing by 861.6% in the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after acquiring an additional 1,617,151 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Boeing during the 1st quarter valued at $272,312,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Sanford C. Bernstein lowered their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Finally, 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 report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Down 2.8 %

NYSE BA traded down $4.53 during trading on Friday, hitting $157.62. 7,328,641 shares of the stock traded hands, compared to its average volume of 7,886,446. The Boeing Company has a 12-month low of $156.70 and a 12-month high of $267.54. The firm has a 50-day simple moving average of $176.53 and a 200-day simple moving average of $180.81. The company has a market capitalization of $96.76 billion, a P/E ratio of -44.41 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the company earned ($0.82) EPS. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts predict that The Boeing Company will post -4.26 EPS 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.