The Boeing Company (NYSE:BA) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its position in shares of The Boeing Company (NYSE:BA) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,718 shares of the aircraft producer’s stock after selling 593 shares during the quarter. Moors & Cabot Inc.’s holdings in Boeing were worth $2,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Cedar Wealth Management LLC acquired a new stake in Boeing during the third quarter worth about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $33,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing in the second quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 0.4 %

Shares of Boeing stock opened at $146.11 on Thursday. The firm has a fifty day simple moving average of $152.22 and a 200-day simple moving average of $168.79. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The stock has a market capitalization of $90.33 billion, a price-to-earnings ratio of -11.33 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.26) earnings per share. As a group, research analysts predict that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BA. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Three 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 issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $190.37.

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.