Charles Schwab Investment Management Inc. Sells 66,362 Shares of The Boeing Company (NYSE:BA)

Charles Schwab Investment Management Inc. lessened its stake in The Boeing Company (NYSE:BA) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,003,221 shares of the aircraft producer’s stock after selling 66,362 shares during the period. Charles Schwab Investment Management Inc. owned about 0.50% of Boeing worth $634,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LifePro Asset Management boosted its stake in Boeing by 5.8% during the second quarter. LifePro Asset Management now owns 3,244 shares of the aircraft producer’s stock worth $685,000 after acquiring an additional 179 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Boeing during the 2nd quarter worth about $131,000. Left Brain Wealth Management LLC grew its stake in shares of Boeing by 15.5% in the 2nd quarter. Left Brain Wealth Management LLC now owns 8,525 shares of the aircraft producer’s stock valued at $1,800,000 after buying an additional 1,144 shares during the period. LPL Financial LLC increased its position in Boeing by 1.9% in the 2nd quarter. LPL Financial LLC now owns 871,650 shares of the aircraft producer’s stock valued at $184,058,000 after buying an additional 16,491 shares in the last quarter. Finally, CWM LLC raised its stake in Boeing by 16.2% during the 1st quarter. CWM LLC now owns 19,502 shares of the aircraft producer’s stock worth $4,143,000 after buying an additional 2,716 shares during the period. 61.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BA has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of Boeing from $210.00 to $200.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Wells Fargo & Company dropped their target price on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, October 3rd. Bank of America upgraded Boeing from a “neutral” rating to a “buy” rating and upped their price target for the stock from $225.00 to $300.00 in a report on Thursday, July 27th. Jefferies Financial Group raised their price objective on Boeing from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Boeing in a report on Wednesday, September 27th. They issued a “hold” rating and a $204.00 target price for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.25.

Boeing Price Performance

NYSE:BA opened at $208.71 on Thursday. The company has a market cap of $126.27 billion, a P/E ratio of -44.41 and a beta of 1.48. The Boeing Company has a 1 year low of $168.52 and a 1 year high of $243.10. The stock’s fifty day moving average price is $193.99 and its two-hundred day moving average price is $208.42.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 25th. The aircraft producer reported ($3.26) EPS for the quarter, missing the consensus estimate of ($3.21) by ($0.05). The business had revenue of $18.10 billion during the quarter, compared to analyst estimates of $18.01 billion. During the same period in the prior year, the company posted ($6.18) EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts expect that The Boeing Company will post -5.6 earnings per share for the current fiscal year.

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 four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.