Chickasaw Capital Management LLC Sells 90 Shares of The Boeing Company (NYSE:BA)

Chickasaw Capital Management LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,455 shares of the aircraft producer’s stock after selling 90 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Boeing were worth $435,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its position in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. boosted its stake in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of Boeing stock traded up $1.77 during trading on Tuesday, hitting $172.55. The stock had a trading volume of 5,894,492 shares, compared to its average volume of 9,921,843. The stock has a market cap of $106.67 billion, a PE ratio of -13.38 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $233.85. The firm’s fifty day simple moving average is $159.83 and its 200-day simple moving average is $165.30.

Boeing (NYSE:BA) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company decreased their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Susquehanna cut their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. TD Cowen lowered their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.21.

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.