Sharp Financial Services LLC Lowers Holdings in The Boeing Company (NYSE:BA)

Sharp Financial Services LLC trimmed its position in The Boeing Company (NYSE:BA) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,785 shares of the aircraft producer’s stock after selling 85 shares during the period. Sharp Financial Services LLC’s holdings in Boeing were worth $316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted 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 in the last quarter. Jennison Associates LLC boosted its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of 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 purchasing an additional 67,474 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

BA opened at $174.87 on Thursday. The stock has a market capitalization of $108.11 billion, a price-to-earnings ratio of -13.56 and a beta of 1.52. The business has a 50-day moving average of $164.20 and a two-hundred day moving average of $164.46. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59.

Boeing (NYSE:BA) last posted 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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) EPS. Equities research analysts anticipate that The Boeing Company will post -16.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley cut their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Susquehanna cut their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

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.