The Boeing Company (NYSE:BA) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 7.7% in the third quarter, Holdings Channel reports. The firm owned 3,874 shares of the aircraft producer’s stock after selling 323 shares during the period. Summit Trail Advisors LLC’s holdings in Boeing were worth $589,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BA. Jennison Associates LLC boosted its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. ING Groep NV purchased a new position in Boeing in the 3rd quarter worth approximately $11,679,000. Lazari Capital Management Inc. boosted its holdings in Boeing by 55.7% in the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after acquiring an additional 8,309 shares during the period. Atlanta Consulting Group Advisors LLC grew its position in Boeing by 537.6% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock valued at $1,144,000 after acquiring an additional 6,344 shares in the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of Boeing by 19.8% during the third quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock valued at $3,741,000 after purchasing an additional 4,065 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BA shares. Robert W. Baird lowered their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Trading Down 1.6 %

NYSE:BA opened at $150.72 on Wednesday. The firm has a market capitalization of $93.18 billion, a PE ratio of -11.68 and a beta of 1.57. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54. The stock has a 50 day moving average of $151.53 and a 200-day moving average of $167.88.

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