Grimes & Company Inc. Has $470,000 Holdings in The Boeing Company (NYSE:BA)

Grimes & Company Inc. cut its holdings in shares of The Boeing Company (NYSE:BA) by 92.9% during the third quarter, HoldingsChannel.com reports. The firm owned 3,092 shares of the aircraft producer’s stock after selling 40,750 shares during the quarter. Grimes & Company Inc.’s holdings in Boeing were worth $470,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BA. Hennion & Walsh Asset Management Inc. raised its position in shares of Boeing by 23.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,998 shares of the aircraft producer’s stock valued at $456,000 after acquiring an additional 570 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Boeing in the 3rd quarter valued at approximately $1,643,000. First National Bank of Hutchinson acquired a new stake in shares of Boeing in the 3rd quarter valued at approximately $215,000. Patrick M Sweeney & Associates Inc. raised its position in shares of Boeing by 5.1% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,862 shares of the aircraft producer’s stock valued at $587,000 after acquiring an additional 186 shares during the period. Finally, International Assets Investment Management LLC raised its position 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 acquiring an additional 1,251,165 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 1.2 %

NYSE:BA opened at $155.19 on Friday. The Boeing Company has a 1-year low of $146.02 and a 1-year high of $267.54. The firm has a fifty day simple moving average of $160.61 and a 200 day simple moving average of $172.01. The stock has a market capitalization of $95.27 billion, a PE ratio of -43.72 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($4.85) by ($5.59). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the company earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Thursday. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Sanford C. Bernstein dropped their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.79.

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.