Ferguson Wellman Capital Management Inc. Sells 2,045 Shares of The Boeing Company (NYSE:BA)

Ferguson Wellman Capital Management Inc. decreased its stake in The Boeing Company (NYSE:BA) by 25.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,915 shares of the aircraft producer’s stock after selling 2,045 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Boeing were worth $899,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Global Assets Advisory LLC purchased a new position in shares of Boeing in the first quarter worth about $272,312,000. Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Boeing by 9,626.0% in the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BA. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group reduced their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Company reduced their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday, October 14th. Finally, Citigroup reduced their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.79.

Boeing Price Performance

BA stock opened at $155.00 on Friday. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The stock has a market cap of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The firm has a 50 day simple moving average of $161.10 and a two-hundred day simple moving average of $172.53.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm posted ($0.82) EPS. On average, research analysts expect that The Boeing Company will post -5.35 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.