Levin Capital Strategies L.P. Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Levin Capital Strategies L.P. cut its stake in The Boeing Company (NYSE:BA) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,223 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Boeing were worth $1,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brio Consultants LLC bought a new position in shares of Boeing in the fourth quarter worth about $207,000. Gryphon Financial Partners LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $258,000. Dana Investment Advisors Inc. bought a new stake in shares of Boeing during the fourth quarter valued at approximately $395,000. Dimensional Fund Advisors LP boosted its holdings in shares of Boeing by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,171,983 shares of the aircraft producer’s stock valued at $305,489,000 after purchasing an additional 16,279 shares during the period. Finally, AlphaStar Capital Management LLC bought a new position in Boeing in the fourth quarter worth approximately $235,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of BA opened at $162.92 on Tuesday. The Boeing Company has a one year low of $156.70 and a one year high of $267.54. The stock has a market cap of $100.39 billion, a P/E ratio of -45.89 and a beta of 1.58. The stock has a 50-day moving average of $176.06 and a two-hundred day moving average of $180.23.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the business earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% on a year-over-year basis. Analysts predict that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus upped 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. UBS Group lowered their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.