The Boeing Company (NYSE:BA) Position Cut by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN cut its position in The Boeing Company (NYSE:BA) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,710 shares of the aircraft producer’s stock after selling 416 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Boeing were worth $303,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing during the 3rd quarter valued at about $28,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the 2nd quarter worth $33,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the third quarter valued at $30,000. Fairscale Capital LLC purchased a new position in Boeing in the 2nd quarter worth about $59,000. Finally, Planning Capital Management Corp increased its position in shares of Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock opened at $170.56 on Tuesday. The business has a 50-day moving average of $161.70 and a 200-day moving average of $165.07. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The stock has a market capitalization of $105.44 billion, a P/E ratio of -13.22 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the company posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.21.

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.