Financial Management Network Inc. reduced its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 26.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,751 shares of the aircraft producer’s stock after selling 1,685 shares during the period. Financial Management Network Inc.’s holdings in Boeing were worth $807,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc grew its position in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the period. Carnegie Investment Counsel boosted its holdings in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,943 shares during the period. Principal Financial Group Inc. boosted its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. 64.82% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on BA. Citigroup raised their price objective on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Wells Fargo & Company raised their price objective on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.
Boeing Stock Up 0.2 %
Shares of NYSE:BA opened at $184.73 on Wednesday. The stock has a market cap of $138.56 billion, a PE ratio of -10.08 and a beta of 1.52. The company’s fifty day moving average is $175.92 and its 200 day moving average is $164.05. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10.
Boeing (NYSE:BA – Get Free Report) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm posted ($0.47) EPS. Sell-side analysts anticipate that The Boeing Company will post -2.3 EPS for the current 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.
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