Cullinan Associates Inc. Trims Holdings in The Boeing Company (NYSE:BA)

Cullinan Associates Inc. reduced its stake in The Boeing Company (NYSE:BA) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,575 shares of the aircraft producer’s stock after selling 400 shares during the period. Cullinan Associates Inc.’s holdings in Boeing were worth $1,164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Boeing by 289.8% in 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 buying an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. State Street Corp lifted its position in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $175.95 on Tuesday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $213.77. The stock’s 50-day simple moving average is $169.50 and its 200-day simple moving average is $164.05. The firm has a market cap of $108.77 billion, a price-to-earnings ratio of -9.60 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the company posted ($0.47) earnings per share. As a group, research analysts predict that The Boeing Company will post -2.12 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the topic of several research analyst reports. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Finally, TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

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.