Fmr LLC Has $3.35 Billion Stake in The Boeing Company (NYSE:BA)

Fmr LLC lowered its holdings in The Boeing Company (NYSE:BA) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,019,014 shares of the aircraft producer’s stock after selling 1,894,209 shares during the period. Fmr LLC owned approximately 3.56% of Boeing worth $3,347,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the second quarter worth approximately $33,000. Cedar Wealth Management LLC purchased a new position in Boeing during the third quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reduced 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 lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, UBS Group reduced their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Price Performance

Shares of Boeing stock opened at $153.08 on Tuesday. The company has a market cap of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57. The firm has a fifty day moving average price of $151.65 and a two-hundred day moving average price of $168.08. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the company earned ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

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.