Mutual Advisors LLC Reduces Holdings in The Boeing Company (NYSE:BA)

Mutual Advisors LLC decreased its position in shares of The Boeing Company (NYSE:BA) by 61.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,941 shares of the aircraft producer’s stock after selling 15,640 shares during the quarter. Mutual Advisors LLC’s holdings in Boeing were worth $1,679,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. State Street Corp boosted its stake in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the period. Geode Capital Management LLC lifted its position in Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares during the period. Jennison Associates LLC lifted its position in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. Fisher Asset Management LLC lifted its position in Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares during the period. Finally, Legal & General Group Plc lifted its position in Boeing by 2.0% in the second 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. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 1.4 %

Shares of BA opened at $175.95 on Friday. The firm has a market cap of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52. The company’s fifty day moving average is $165.70 and its two-hundred day moving average is $164.62. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $214.63.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -16.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.11.

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.