Crestwood Advisors Group LLC Reduces Position in The Boeing Company (NYSE:BA)

Crestwood Advisors Group LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,858 shares of the aircraft producer’s stock after selling 277 shares during the period. Crestwood Advisors Group LLC’s holdings in Boeing were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Heritage Investors Management Corp lifted its stake in Boeing by 3.7% during the 3rd quarter. Heritage Investors Management Corp now owns 114,138 shares of the aircraft producer’s stock valued at $17,354,000 after acquiring an additional 4,072 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Boeing by 15.3% in the 3rd quarter. Sentry Investment Management LLC now owns 2,776 shares of the aircraft producer’s stock valued at $422,000 after purchasing an additional 369 shares during the period. United Advisor Group LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $369,000. Catalyst Capital Advisors LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $500,000. Finally, QRG Capital Management Inc. lifted its stake in shares of Boeing by 6.3% in the 3rd quarter. QRG Capital Management Inc. now owns 53,190 shares of the aircraft producer’s stock valued at $8,087,000 after purchasing an additional 3,132 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 2.5 %

Shares of BA opened at $147.18 on Thursday. The Boeing Company has a 12-month low of $144.13 and a 12-month high of $267.54. The firm has a 50-day moving average price of $156.17 and a 200 day moving average price of $170.60. The firm has a market capitalization of $90.99 billion, a P/E ratio of -11.41 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the company earned ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -16.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BA shares. 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $190.37.

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.