The Boeing Company $BA Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,976 shares of the aircraft producer’s stock after selling 2,852 shares during the period. Valeo Financial Advisors LLC’s holdings in Boeing were worth $4,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Jupiter Topco LLC acquired a new position in shares of Boeing in the 2nd quarter valued at $911,878,000. Bank of New York Mellon Corp acquired a new stake in Boeing during the 2nd quarter worth about $747,763,000. Legal & General Group Plc purchased a new stake in Boeing during the 2nd quarter valued at about $710,816,000. Deutsche Bank AG acquired a new position in shares of Boeing in the second quarter valued at about $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Boeing in the second quarter valued at about $441,997,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. Weiss Ratings reiterated a “sell (d+)” rating on shares of Boeing in a research report on Tuesday, July 21st. Btg Pactual set a $260.00 price objective on shares of Boeing in a research note on Tuesday, July 14th. William Blair reiterated an “outperform” rating on shares of Boeing in a research note on Wednesday, September 30th. Jefferies Financial Group reduced their target price on shares of Boeing from $295.00 to $265.00 and set a “buy” rating for the company in a report on Monday, September 21st. Finally, Cantor Fitzgerald downgraded shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.95.

Boeing Price Performance

Shares of NYSE:BA traded down $1.75 during trading on Thursday, reaching $186.57. 4,282,035 shares of the company’s stock traded hands, compared to its average volume of 6,828,457. The company has a quick ratio of 0.33, a current ratio of 1.14 and a debt-to-equity ratio of 6.77. The Boeing Company has a fifty-two week low of $176.77 and a fifty-two week high of $254.35. The company has a 50-day simple moving average of $210.89 and a 200-day simple moving average of $216.09. The firm has a market cap of $147.46 billion, a PE ratio of 80.86 and a beta of 1.26.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The business had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. During the same quarter in the prior year, the company posted ($1.24) EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that The Boeing Company will post -0.91 earnings per share for the current year.

Boeing Profile

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.