Focus Financial Network Inc. Trims Stock Holdings in The Boeing Company (NYSE:BA)

Focus Financial Network Inc. lowered its holdings in The Boeing Company (NYSE:BA) by 16.4% in the third quarter, HoldingsChannel reports. The firm owned 13,038 shares of the aircraft producer’s stock after selling 2,550 shares during the period. Focus Financial Network Inc.’s holdings in Boeing were worth $1,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC lifted its holdings in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after buying an additional 106,513 shares during the last quarter. Jennison Associates LLC lifted its holdings in Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BA. Deutsche Bank Aktiengesellschaft reduced their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, 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 report on Monday, October 14th. Three 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Performance

Shares of BA stock opened at $154.59 on Friday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a market cap of $95.57 billion, a PE ratio of -11.98 and a beta of 1.57. The business’s fifty day moving average is $157.46 and its 200-day moving average is $171.00.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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 the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -16.22 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.