The Boeing Company (NYSE:BA) Shares Sold by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in shares of The Boeing Company (NYSE:BA) by 78.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,927 shares of the aircraft producer’s stock after selling 10,671 shares during the quarter. Narwhal Capital Management’s holdings in Boeing were worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BA. Vanguard Group Inc. boosted its stake in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Boeing by 9,626.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after acquiring an additional 1,015,542 shares during the period. Wulff Hansen & CO. boosted its position in shares of Boeing by 15,039.0% in the second 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 last quarter. Jennison Associates LLC grew its holdings in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares during the period. Finally, Newport Trust Company LLC increased its position in Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 0.0 %

BA stock opened at $159.85 on Wednesday. The company has a market capitalization of $98.13 billion, a PE ratio of -45.03 and a beta of 1.57. The stock’s 50 day moving average is $160.84 and its two-hundred day moving average is $172.11. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) earnings per share. As a group, sell-side analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BA. Wells Fargo & Company decreased their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Stifel Nicolaus upped 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. JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given 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 $198.79.

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.