The Boeing Company (NYSE:BA) Position Reduced by Great Diamond Partners LLC

Great Diamond Partners LLC cut its position in shares of The Boeing Company (NYSE:BA) by 43.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,178 shares of the aircraft producer’s stock after selling 3,209 shares during the quarter. Great Diamond Partners LLC’s holdings in Boeing were worth $635,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in Boeing during the second quarter valued at approximately $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing during the second quarter valued at about $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

BA opened at $152.97 on Wednesday. The company has a market cap of $93.91 billion, a PE ratio of -43.09 and a beta of 1.57. The stock has a 50-day moving average of $158.72 and a 200-day moving average of $171.36. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% compared to the same quarter last year. During the same period last 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BA shares. Wells Fargo & Company cut their price target on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Citigroup lowered their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Robert W. Baird decreased their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $190.42.

Boeing Company 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.