Waycross Partners LLC Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Waycross Partners LLC trimmed its position in The Boeing Company (NYSE:BA) by 32.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,646 shares of the aircraft producer’s stock after selling 6,100 shares during the period. Waycross Partners LLC’s holdings in Boeing were worth $3,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BA. Vanguard Group Inc. raised its stake in shares of Boeing by 0.8% in the third quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after buying an additional 356,496 shares during the period. Morgan Stanley raised its stake in shares of Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after buying an additional 91,801 shares during the period. Northern Trust Corp lifted its holdings in Boeing by 3.2% in the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock worth $949,042,000 after purchasing an additional 153,168 shares in the last quarter. Jennison Associates LLC purchased a new position in Boeing in the 4th quarter worth approximately $960,397,000. Finally, Invesco Ltd. lifted its holdings in Boeing by 30.1% in the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after purchasing an additional 759,267 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 3.3 %

Shares of NYSE BA traded down $5.65 during mid-day trading on Tuesday, reaching $167.84. 8,171,877 shares of the company were exchanged, compared to its average volume of 9,716,028. The stock has a market cap of $103.03 billion, a price-to-earnings ratio of -47.28 and a beta of 1.52. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm has a 50-day moving average of $185.21 and a 200 day moving average of $206.38.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.75) earnings per share. On average, equities analysts forecast that The Boeing Company will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group lowered their price target on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Morgan Stanley decreased their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company cut their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Hold” and an average target price of $222.41.

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.