FourThought Financial Partners LLC Has $828,000 Position in The Boeing Company (NYSE:BA)

FourThought Financial Partners LLC trimmed its stake in shares of The Boeing Company (NYSE:BA) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,176 shares of the aircraft producer’s stock after selling 218 shares during the quarter. FourThought Financial Partners LLC’s holdings in Boeing were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new position in Boeing during the 4th quarter worth about $960,397,000. Lazard Asset Management LLC boosted its holdings in Boeing by 8,961.2% in the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after acquiring an additional 1,148,643 shares during the last quarter. Barclays PLC increased its position in Boeing by 54.5% during the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after purchasing an additional 829,321 shares during the period. Invesco Ltd. raised its holdings in Boeing by 30.1% during 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 during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after purchasing an additional 549,318 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Bank of America dropped their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Sanford C. Bernstein decreased their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Wells Fargo & Company dropped their price target on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $222.41.

Boeing Price Performance

Shares of NYSE BA traded up $0.94 during trading on Friday, hitting $179.79. The stock had a trading volume of 5,416,263 shares, compared to its average volume of 8,228,397. The firm has a fifty day moving average of $183.74 and a two-hundred day moving average of $206.20. The company has a market capitalization of $110.37 billion, a PE ratio of -50.64 and a beta of 1.54. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the company posted ($1.75) earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -0.18 earnings per share for the current fiscal year.

Boeing Company 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.