Amalgamated Bank Reduces Stock Position in The Boeing Company (NYSE:BA)

Amalgamated Bank decreased its holdings in The Boeing Company (NYSE:BA) by 1.5% during the third quarter, HoldingsChannel.com reports. The firm owned 116,078 shares of the aircraft producer’s stock after selling 1,763 shares during the quarter. Amalgamated Bank’s holdings in Boeing were worth $17,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC boosted its holdings in shares of Boeing by 15.3% in the third quarter. Sentry Investment Management LLC now owns 2,776 shares of the aircraft producer’s stock valued at $422,000 after purchasing an additional 369 shares during the period. United Advisor Group LLC bought a new stake in Boeing during the 3rd quarter valued at $369,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Boeing in the 3rd quarter worth $500,000. QRG Capital Management Inc. grew its position in shares of Boeing by 6.3% during the 3rd quarter. QRG Capital Management Inc. now owns 53,190 shares of the aircraft producer’s stock worth $8,087,000 after buying an additional 3,132 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Boeing by 5.2% in the third quarter. Asset Management One Co. Ltd. now owns 319,103 shares of the aircraft producer’s stock valued at $48,516,000 after acquiring an additional 15,852 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Shares of BA stock opened at $150.99 on Wednesday. The business has a fifty day moving average of $156.65 and a 200 day moving average of $170.77. The firm has a market capitalization of $93.34 billion, a price-to-earnings ratio of -11.70 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the company posted ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that The Boeing Company will post -16.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. UBS Group cut their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Jefferies Financial Group dropped their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Hold” and a consensus price target of $190.37.

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.