The Boeing Company (NYSE:BA) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its position in shares of The Boeing Company (NYSE:BA) by 50.1% during the third quarter, Holdings Channel reports. The firm owned 1,969 shares of the aircraft producer’s stock after selling 1,973 shares during the quarter. Means Investment CO. Inc.’s holdings in Boeing were worth $299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spectrum Financial Alliance Ltd LLC increased its position in Boeing by 12.3% during the third quarter. Spectrum Financial Alliance Ltd LLC now owns 265,490 shares of the aircraft producer’s stock worth $40,365,000 after buying an additional 29,115 shares during the period. Wealth Alliance Advisory Group LLC grew its position in shares of Boeing by 3.6% during the third quarter. Wealth Alliance Advisory Group LLC now owns 3,933 shares of the aircraft producer’s stock worth $598,000 after acquiring an additional 135 shares during the last quarter. Chicago Capital LLC increased its holdings in shares of Boeing by 3.5% in the 3rd quarter. Chicago Capital LLC now owns 4,858 shares of the aircraft producer’s stock valued at $739,000 after acquiring an additional 165 shares during the period. Embree Financial Group raised its position in Boeing by 52.0% in the 3rd quarter. Embree Financial Group now owns 3,109 shares of the aircraft producer’s stock valued at $473,000 after purchasing an additional 1,063 shares during the last quarter. Finally, TriaGen Wealth Management LLC boosted its stake in Boeing by 335.3% during the 3rd quarter. TriaGen Wealth Management LLC now owns 12,736 shares of the aircraft producer’s stock worth $1,936,000 after purchasing an additional 9,810 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.2 %

Boeing stock opened at $155.00 on Friday. The firm has a market capitalization of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The firm’s 50-day simple moving average is $161.10 and its 200 day simple moving average is $172.53.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business 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 business earned ($0.82) earnings per share. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -5.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BA. Deutsche Bank Aktiengesellschaft reduced their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Sanford C. Bernstein lowered their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.79.

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.