The Boeing Company (NYSE:BA) Shares Sold by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC lowered its stake in The Boeing Company (NYSE:BA) by 4.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,331 shares of the aircraft producer’s stock after selling 106 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Boeing were worth $424,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Boeing in the 4th quarter valued at approximately $26,000. Evolution Advisers Inc. acquired a new position in Boeing during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing during the 4th quarter worth $28,000. Vima LLC acquired a new stake in Boeing in the fourth quarter worth $34,000. Finally, Hobbs Group Advisors LLC bought a new stake in Boeing in the second quarter valued at $34,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of NYSE BA traded up $2.19 during trading hours on Friday, hitting $174.95. 4,401,776 shares of the stock were exchanged, compared to its average volume of 7,969,573. The firm has a market capitalization of $107.40 billion, a P/E ratio of -49.28 and a beta of 1.56. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company’s 50 day moving average is $178.48 and its 200 day moving average is $183.50.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) 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 analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the business earned ($0.82) earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. Research analysts anticipate that The Boeing Company will post -2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BA shares. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Wells Fargo & Company decreased their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $215.18.

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.