Asset Dedication LLC Sells 1,214 Shares of The Boeing Company (NYSE:BA)

Asset Dedication LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 7.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,629 shares of the aircraft producer’s stock after selling 1,214 shares during the period. Asset Dedication LLC’s holdings in Boeing were worth $2,845,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BA. Vanguard Group Inc. boosted its holdings in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Capital Research Global Investors boosted its stake in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the period. Northern Trust Corp raised its stake in Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after acquiring an additional 52,081 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 14.1% during the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after acquiring an additional 518,952 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 2.8 %

Shares of NYSE BA opened at $157.62 on Friday. The Boeing Company has a 1 year low of $156.70 and a 1 year high of $267.54. The firm’s 50-day moving average is $176.53 and its 200-day moving average is $180.65. The firm has a market capitalization of $96.76 billion, a PE ratio of -44.40 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. As a group, equities research analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Sanford C. Bernstein dropped 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. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company restated an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Finally, Robert W. Baird cut their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.