Stonegate Investment Group LLC Has $203,000 Stock Holdings in The Boeing Company (NYSE:BA)

Stonegate Investment Group LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 80.6% in the third quarter, Holdings Channel.com reports. The firm owned 1,334 shares of the aircraft producer’s stock after selling 5,539 shares during the quarter. Stonegate Investment Group LLC’s holdings in Boeing were worth $203,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BA. Claro Advisors LLC raised its holdings in shares of Boeing by 624.4% during the third quarter. Claro Advisors LLC now owns 10,953 shares of the aircraft producer’s stock worth $1,665,000 after acquiring an additional 9,441 shares during the period. Madrona Financial Services LLC increased its holdings in Boeing by 7.6% during the 3rd quarter. Madrona Financial Services LLC now owns 9,371 shares of the aircraft producer’s stock worth $1,425,000 after purchasing an additional 664 shares in the last quarter. LexAurum Advisors LLC raised its stake in shares of Boeing by 7.4% in the 3rd quarter. LexAurum Advisors LLC now owns 4,286 shares of the aircraft producer’s stock valued at $652,000 after purchasing an additional 297 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Boeing by 4.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 281,613 shares of the aircraft producer’s stock valued at $42,816,000 after purchasing an additional 12,754 shares in the last quarter. Finally, Ballast Inc. boosted its position in shares of Boeing by 2.2% during the third quarter. Ballast Inc. now owns 6,910 shares of the aircraft producer’s stock worth $1,051,000 after buying an additional 151 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Citigroup reduced their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group cut their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Price Performance

Shares of BA opened at $155.00 on Friday. The company’s 50-day moving average is $161.10 and its 200-day moving average is $172.53. The firm has a market capitalization of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the company posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.