King Luther Capital Management Corp Has $372,000 Holdings in The Boeing Company (NYSE:BA)

King Luther Capital Management Corp trimmed its holdings in The Boeing Company (NYSE:BA) by 44.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,450 shares of the aircraft producer’s stock after selling 1,972 shares during the period. King Luther Capital Management Corp’s holdings in Boeing were worth $372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Wealth Management LLC acquired a new stake in Boeing during the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new stake in Boeing during the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Boeing in the 2nd quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of BA opened at $149.29 on Friday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54. The stock has a market capitalization of $92.29 billion, a price-to-earnings ratio of -11.57 and a beta of 1.57. The stock has a fifty day moving average of $151.70 and a 200-day moving average of $168.36.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned ($3.26) EPS. As a group, equities analysts forecast that The Boeing Company will post -16.2 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Robert W. Baird reduced 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. Finally, Wells Fargo & Company dropped their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued 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, the stock currently has a consensus rating of “Hold” and an average price target of $190.37.

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.