Simmons Bank Lowers Stock Position in The Boeing Company (NYSE:BA)

Simmons Bank decreased its position in The Boeing Company (NYSE:BA) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,660 shares of the aircraft producer’s stock after selling 802 shares during the period. Simmons Bank’s holdings in Boeing were worth $1,317,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter worth about $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing during the 2nd quarter valued at approximately $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Boeing in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Susquehanna cut their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing presently has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

Shares of Boeing stock opened at $139.98 on Thursday. The Boeing Company has a fifty-two week low of $139.10 and a fifty-two week high of $267.54. The firm has a market capitalization of $86.54 billion, a price-to-earnings ratio of -10.85 and a beta of 1.57. The stock has a 50 day moving average of $154.49 and a 200 day moving average of $170.11.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (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 period last year, the firm earned ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. Analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

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.