Lynch & Associates IN Sells 724 Shares of The Boeing Company (NYSE:BA)

Lynch & Associates IN lessened its stake in The Boeing Company (NYSE:BA) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,639 shares of the aircraft producer’s stock after selling 724 shares during the period. Lynch & Associates IN’s holdings in Boeing were worth $3,574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC boosted its position in Boeing by 869.1% during the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after acquiring an additional 20,425 shares during the last quarter. Park Avenue Securities LLC grew its stake in Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after purchasing an additional 1,805 shares during the period. Williams Financial LLC bought a new stake in Boeing in the second quarter worth approximately $1,637,000. Dakota Wealth Management lifted its stake in Boeing by 47.1% in the first quarter. Dakota Wealth Management now owns 12,730 shares of the aircraft producer’s stock valued at $2,457,000 after buying an additional 4,078 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $561,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $157.62 on Friday. The Boeing Company has a 52-week low of $156.70 and a 52-week high of $267.54. The company has a fifty day moving average of $176.53 and a 200-day moving average of $180.65. The company has a market capitalization of $96.76 billion, a P/E 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 for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.82) earnings per share. As a group, analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein cut their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Robert W. Baird cut their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Bank of America upped their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $119.00 target price (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.29.

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.