Hsbc Holdings PLC Has $263.72 Million Stake in The Boeing Company (NYSE:BA)

Hsbc Holdings PLC cut its holdings in The Boeing Company (NYSE:BA) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,448,543 shares of the aircraft producer’s stock after selling 337,318 shares during the period. Hsbc Holdings PLC owned approximately 0.24% of Boeing worth $263,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the fourth quarter worth approximately $26,000. Vima LLC purchased a new stake in Boeing in the 4th quarter valued at $34,000. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. boosted its holdings in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of Boeing in the 4th quarter worth $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. UBS Group cut their target price on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Finally, Bank of America upped their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Stock Up 0.5 %

BA stock opened at $156.38 on Wednesday. The stock has a 50-day simple moving average of $172.95 and a two-hundred day simple moving average of $178.39. The firm has a market capitalization of $96.00 billion, a PE ratio of -44.05 and a beta of 1.57. The Boeing Company has a twelve month low of $154.02 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released 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 business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal 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.