Crestwood Advisors Group LLC Lowers Stock Position in The Boeing Company (NYSE:BA)

Crestwood Advisors Group LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,858 shares of the aircraft producer’s stock after selling 277 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Boeing were worth $435,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Heritage Investors Management Corp boosted its stake in Boeing by 3.7% during the third quarter. Heritage Investors Management Corp now owns 114,138 shares of the aircraft producer’s stock worth $17,354,000 after buying an additional 4,072 shares during the period. Sentry Investment Management LLC boosted its stake in Boeing by 15.3% during the third quarter. Sentry Investment Management LLC now owns 2,776 shares of the aircraft producer’s stock worth $422,000 after buying an additional 369 shares during the period. United Advisor Group LLC purchased a new position in Boeing during the third quarter worth about $369,000. Catalyst Capital Advisors LLC purchased a new position in shares of Boeing in the third quarter valued at approximately $500,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Boeing by 6.3% in the third quarter. QRG Capital Management Inc. now owns 53,190 shares of the aircraft producer’s stock valued at $8,087,000 after purchasing an additional 3,132 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $147.18 on Thursday. The company has a market capitalization of $90.99 billion, a P/E ratio of -11.41 and a beta of 1.57. The Boeing Company has a fifty-two week low of $144.13 and a fifty-two week high of $267.54. The stock has a 50-day simple moving average of $156.17 and a 200-day simple moving average of $170.60.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate 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. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.26) EPS. As a group, analysts forecast that The Boeing Company will post -16.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of recent research reports. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Susquehanna lowered their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $190.37.

About Boeing

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.