Moors & Cabot Inc. Decreases Stake in The Boeing Company (NYSE:BA)

Moors & Cabot Inc. cut its position in The Boeing Company (NYSE:BA) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 19,311 shares of the aircraft producer’s stock after selling 518 shares during the quarter. Moors & Cabot Inc.’s holdings in Boeing were worth $3,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Boeing by 1.1% in the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BA shares. Wells Fargo & Company reissued an “underweight” rating and set a $119.00 price objective (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Robert W. Baird dropped their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Finally, Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Stock Down 0.8 %

Shares of NYSE:BA opened at $155.54 on Tuesday. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The firm’s 50-day simple moving average is $173.49 and its 200-day simple moving average is $178.70. The company has a market cap of $95.48 billion, a price-to-earnings ratio of -43.81 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) earnings per share. On average, research analysts forecast that The Boeing Company will post -4.26 EPS 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.