The Boeing Company (NYSE:BA) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC lowered its position in The Boeing Company (NYSE:BA) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,689 shares of the aircraft producer’s stock after selling 522 shares during the period. Verus Capital Partners LLC’s holdings in Boeing were worth $2,537,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Platform Technology Partners raised its holdings in Boeing by 29.4% in the 3rd quarter. Platform Technology Partners now owns 12,255 shares of the aircraft producer’s stock worth $1,863,000 after purchasing an additional 2,788 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Boeing by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,589,850 shares of the aircraft producer’s stock valued at $241,721,000 after buying an additional 35,068 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Boeing by 63.9% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,884 shares of the aircraft producer’s stock worth $1,837,000 after buying an additional 4,632 shares during the period. Patron Partners LLC lifted its position in shares of Boeing by 7.4% during the 3rd quarter. Patron Partners LLC now owns 2,734 shares of the aircraft producer’s stock valued at $416,000 after buying an additional 188 shares in the last quarter. Finally, First National Trust Co grew its stake in Boeing by 5.5% in the 3rd quarter. First National Trust Co now owns 3,316 shares of the aircraft producer’s stock valued at $504,000 after acquiring an additional 172 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA opened at $148.96 on Tuesday. The stock has a market capitalization of $92.09 billion, a PE ratio of -11.55 and a beta of 1.57. The Boeing Company has a one year low of $144.13 and a one year high of $267.54. The business’s 50 day moving average price is $154.81 and its 200 day moving average price is $170.26.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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 analyst estimates of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $190.37.

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.