River & Mercantile Asset Management LLP Reduces Position in The Boeing Company (NYSE:BA)

River & Mercantile Asset Management LLP decreased its position in shares of The Boeing Company (NYSE:BA – Get Rating) by 38.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,220 shares of the aircraft producer’s stock after selling 5,060 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Boeing were worth $997,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Boeing by 88.7% during the 3rd quarter. CarsonAllaria Wealth Management Ltd. now owns 266 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 125 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Boeing in the 3rd quarter worth $33,000. Selway Asset Management purchased a new stake in Boeing in the 3rd quarter worth $36,000. Ten Capital Wealth Advisors LLC lifted its stake in Boeing by 200.9% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 325 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 217 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its stake in Boeing by 61.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 328 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $198.21 on Thursday. The company has a market capitalization of $118.76 billion, a P/E ratio of -23.91, a P/E/G ratio of 54.52 and a beta of 1.43. The company’s 50-day simple moving average is $209.33 and its two-hundred day simple moving average is $177.49. The Boeing Company has a one year low of $113.02 and a one year high of $221.33.

Boeing (NYSE:BA – Get Rating) last issued its earnings results on Wednesday, January 25th. The aircraft producer reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.80). The business had revenue of $19.98 billion for the quarter, compared to analyst estimates of $20.10 billion. Boeing’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($7.69) EPS. On average, research analysts expect that The Boeing Company will post 0.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Boeing in a research note on Thursday. They issued a “hold” rating on the stock. Jefferies Financial Group boosted their price target on shares of Boeing from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. JPMorgan Chase & Co. set a $225.00 target price on shares of Boeing in a report on Friday, February 24th. Wells Fargo & Company boosted their target price on shares of Boeing from $218.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, January 11th. Finally, Citigroup boosted their target price on shares of Boeing from $222.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.13.

Boeing Profile

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.