Commerce Bank Sells 5,724 Shares of The Boeing Company (NYSE:BA)

Commerce Bank lowered its position in shares of The Boeing Company (NYSE:BA) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,918 shares of the aircraft producer’s stock after selling 5,724 shares during the period. Commerce Bank’s holdings in Boeing were worth $9,718,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its position in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares during the period. Newport Trust Company LLC raised its position in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Boeing by 79.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 726,254 shares of the aircraft producer’s stock valued at $140,160,000 after purchasing an additional 320,502 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group decreased their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. TD Cowen reduced their price target 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. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Down 1.5 %

BA opened at $143.83 on Friday. The firm has a 50-day simple moving average of $151.85 and a two-hundred day simple moving average of $168.62. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54. The company has a market capitalization of $88.92 billion, a PE ratio of -11.15 and a beta of 1.57.

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