Checchi Capital Advisers LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,538 shares of the aircraft producer’s stock after selling 123 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Boeing were worth $1,381,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Boeing by 8.1% in the first quarter. BlackRock Inc. now owns 35,950,526 shares of the aircraft producer’s stock valued at $7,636,970,000 after purchasing an additional 2,682,272 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Boeing by 109,667.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after purchasing an additional 16,041,103 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Boeing by 2.3% in the first quarter. Geode Capital Management LLC now owns 9,908,984 shares of the aircraft producer’s stock valued at $2,099,342,000 after purchasing an additional 224,280 shares during the last quarter. Morgan Stanley grew its position in Boeing by 11.7% during the fourth quarter. Morgan Stanley now owns 8,321,871 shares of the aircraft producer’s stock worth $1,585,234,000 after buying an additional 872,795 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Boeing by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 4,785,824 shares of the aircraft producer’s stock worth $1,010,574,000 after buying an additional 206,348 shares in the last quarter. 61.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 3rd. TheStreet raised Boeing from a “d+” rating to a “c-” rating in a research report on Tuesday, August 15th. Deutsche Bank Aktiengesellschaft began coverage on Boeing in a research report on Wednesday, September 27th. They set a “hold” rating and a $204.00 target price on the stock. Northcoast Research upgraded shares of Boeing from a “neutral” rating to a “buy” rating and set a $217.00 price target for the company in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada cut 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 note on Thursday, October 26th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.25.
Boeing Stock Performance
BA opened at $205.41 on Thursday. The company has a fifty day moving average price of $193.99 and a two-hundred day moving average price of $208.42. The Boeing Company has a 52 week low of $168.52 and a 52 week high of $243.10. The firm has a market capitalization of $124.27 billion, a PE ratio of -44.41 and a beta of 1.48.
Boeing (NYSE:BA – Get Free Report) last released its earnings results on Wednesday, October 25th. The aircraft producer reported ($3.26) EPS for the quarter, missing analysts’ consensus estimates of ($3.21) by ($0.05). The business had revenue of $18.10 billion for the quarter, compared to analysts’ expectations of $18.01 billion. During the same period in the previous year, the company earned ($6.18) earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts forecast that The Boeing Company will post -5.6 EPS for the current year.
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.
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