Intech Investment Management LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Intech Investment Management LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 34.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,170 shares of the aircraft producer’s stock after selling 47,185 shares during the period. Intech Investment Management LLC’s holdings in Boeing were worth $13,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BA. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the 3rd quarter worth $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing during the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing in the 2nd quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing during the second quarter valued at approximately $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.5 %

Shares of BA stock opened at $143.83 on Friday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The stock has a market cap of $88.92 billion, a P/E ratio of -11.15 and a beta of 1.57. The stock has a 50 day moving average of $151.85 and a 200 day moving average of $168.62.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts predict that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on BA shares. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. TD Cowen dropped their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, UBS Group decreased their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing 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.