First Trust Direct Indexing L.P. Sells 2,382 Shares of The Boeing Company (NYSE:BA)

First Trust Direct Indexing L.P. cut its stake in The Boeing Company (NYSE:BA) by 20.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,296 shares of the aircraft producer’s stock after selling 2,382 shares during the period. First Trust Direct Indexing L.P.’s holdings in Boeing were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BA. Vanguard Group Inc. lifted its position in shares of Boeing by 2.5% in the first 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 lifted its position 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 in the last quarter. Jennison Associates LLC boosted its stake in shares of 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 grew its holdings in shares of 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 Boeing stock opened at $149.29 on Friday. The firm has a 50-day moving average of $157.86 and a 200-day moving average of $171.09. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54. The stock has a market cap of $91.65 billion, a PE ratio of -42.05 and a beta of 1.57.

Boeing (NYSE:BA) last announced 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 ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the firm posted ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BA. Jefferies Financial Group dropped their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group dropped their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. TD Cowen decreased their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Hold” and a consensus target price of $190.42.

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.