Private Advisor Group LLC Sells 24,352 Shares of The Boeing Company (NYSE:BA)

Private Advisor Group LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,421 shares of the aircraft producer’s stock after selling 24,352 shares during the period. Private Advisor Group LLC’s holdings in Boeing were worth $11,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC boosted its stake in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA grew its position 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 buying an additional 106,513 shares in the last quarter. Jennison Associates LLC increased its stake 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 acquiring an additional 518,952 shares during the period. Finally, Legal & General Group Plc raised its holdings in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA stock opened at $155.19 on Friday. The company has a market cap of $95.27 billion, a P/E ratio of -43.72 and a beta of 1.57. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The stock has a 50 day simple moving average of $160.61 and a two-hundred day simple moving average of $172.01.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.85) by ($5.59). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.26) EPS. On average, research analysts predict that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on BA shares. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Susquehanna decreased their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday. Robert W. Baird cut their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen reduced their price target 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. Finally, Wells Fargo & Company lowered their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average target price of $191.79.

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.