New York Life Investment Management LLC Has $21.12 Million Position in The Boeing Company (NYSE:BA)

New York Life Investment Management LLC trimmed its position in The Boeing Company (NYSE:BA) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,014 shares of the aircraft producer’s stock after selling 409 shares during the quarter. New York Life Investment Management LLC’s holdings in Boeing were worth $21,117,000 at the end of the most recent reporting period.

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

Boeing Stock Performance

NYSE:BA traded up $3.62 on Wednesday, hitting $171.46. The stock had a trading volume of 6,185,158 shares, compared to its average volume of 9,674,291. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm’s fifty day simple moving average is $185.21 and its two-hundred day simple moving average is $206.38. The stock has a market cap of $105.26 billion, a P/E ratio of -47.57 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the company posted ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts predict that The Boeing Company will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BA shares. Citigroup dropped their price objective on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group cut their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Barclays lowered their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company reduced their price objective 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. Finally, Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Boeing presently has a consensus rating of “Hold” and an average target price of $222.41.

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 Commercial Airplanes; Defense, Space & Security; and Global Services segments.