Invesco LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Invesco LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 5.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,613 shares of the aircraft producer’s stock after selling 158 shares during the period. Invesco LLC’s holdings in Boeing were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in 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. Geode Capital Management LLC raised its position in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after purchasing an additional 320,415 shares during the last quarter. Jennison Associates LLC lifted its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after buying an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Boeing by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after buying an additional 48,637 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Sanford C. Bernstein cut shares of 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. Susquehanna dropped their target price 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 reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.21.

Boeing Stock Performance

BA stock traded down $2.89 during mid-day trading on Wednesday, reaching $174.89. The company had a trading volume of 1,397,414 shares, compared to its average volume of 8,381,928. The firm has a fifty day simple moving average of $167.68 and a 200 day simple moving average of $164.19. The company has a market capitalization of $108.11 billion, a price-to-earnings ratio of -13.60 and a beta of 1.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $214.63.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the firm posted ($0.47) EPS. As a group, analysts predict that The Boeing Company will post -16.39 earnings per share 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.