Fmr LLC Sells 1,894,209 Shares of The Boeing Company (NYSE:BA)

Fmr LLC cut its position in The Boeing Company (NYSE:BA) by 7.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,019,014 shares of the aircraft producer’s stock after selling 1,894,209 shares during the quarter. Fmr LLC’s holdings in Boeing were worth $3,347,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BA. Waverly Advisors LLC grew its holdings in shares of Boeing by 37.2% during the first quarter. Waverly Advisors LLC now owns 11,649 shares of the aircraft producer’s stock worth $2,248,000 after purchasing an additional 3,160 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Boeing by 21.3% during the 1st quarter. Janus Henderson Group PLC now owns 93,046 shares of the aircraft producer’s stock worth $17,948,000 after acquiring an additional 16,342 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Boeing by 6.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,092 shares of the aircraft producer’s stock valued at $7,877,000 after acquiring an additional 2,557 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Boeing by 22.1% in the first quarter. Tidal Investments LLC now owns 36,178 shares of the aircraft producer’s stock worth $6,973,000 after acquiring an additional 6,559 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its position in shares of Boeing by 4.8% during the first quarter. Beacon Capital Management LLC now owns 2,393 shares of the aircraft producer’s stock worth $462,000 after purchasing an additional 110 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Citigroup lowered their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.11.

Boeing Price Performance

Shares of BA opened at $153.08 on Tuesday. The firm has a 50-day moving average of $151.65 and a 200-day moving average of $168.08. The company has a market cap of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business posted ($3.26) earnings per share. Analysts expect that The Boeing Company will post -16.2 earnings per share for the current year.

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.