Stanley Laman Group Ltd. Decreases Position in The Boeing Company (NYSE:BA)

Stanley Laman Group Ltd. reduced its stake in The Boeing Company (NYSE:BA) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,557 shares of the aircraft producer’s stock after selling 786 shares during the period. Stanley Laman Group Ltd.’s holdings in Boeing were worth $4,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Boeing during the fourth quarter worth approximately $28,000. Evolution Advisers Inc. acquired a new position in shares of Boeing in the 4th quarter valued at $28,000. Vima LLC purchased a new stake in Boeing in the 4th quarter valued at $34,000. Finally, Accent Capital Management LLC acquired a new stake in Boeing during the 4th quarter worth $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 2.0 %

Shares of NYSE BA traded up $3.58 during midday trading on Friday, reaching $179.99. 6,731,504 shares of the stock were exchanged, compared to its average volume of 8,062,681. The stock has a 50 day moving average price of $179.34 and a 200-day moving average price of $184.64. The company has a market capitalization of $110.49 billion, a P/E ratio of -50.70 and a beta of 1.56. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. On average, analysts forecast that The Boeing Company will post -2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Sanford C. Bernstein reduced their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup lowered their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.18.

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.