The Boeing Company (NYSE:BA) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of The Boeing Company (NYSE:BA) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,331 shares of the aircraft producer’s stock after selling 1,281 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Boeing were worth $2,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BA. Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Legal & General Group Plc increased its position in shares of Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares during the period. Van ECK Associates Corp raised its stake in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Boeing by 289.8% in the third 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 during the period. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BA. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Performance

NYSE:BA opened at $140.18 on Friday. The company has a market capitalization of $86.66 billion, a P/E ratio of -10.87 and a beta of 1.57. The stock’s 50 day moving average price is $153.20 and its 200 day moving average price is $169.44. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results 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 the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted ($3.26) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

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.