The Boeing Company (NYSE:BA) Stock Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in The Boeing Company (NYSE:BA) by 18.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 148,624 shares of the aircraft producer’s stock after selling 33,781 shares during the quarter. Fifth Third Bancorp’s holdings in Boeing were worth $27,051,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Federated Hermes Inc. increased its stake in shares of Boeing by 21.3% during the fourth quarter. Federated Hermes Inc. now owns 134,687 shares of the aircraft producer’s stock valued at $35,108,000 after acquiring an additional 23,630 shares during the period. Beaumont Financial Advisors LLC grew its holdings in Boeing by 5.4% during the fourth quarter. Beaumont Financial Advisors LLC now owns 1,713 shares of the aircraft producer’s stock worth $447,000 after acquiring an additional 87 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Boeing by 1.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,077 shares of the aircraft producer’s stock worth $802,000 after acquiring an additional 52 shares during the period. abrdn plc raised its position in Boeing by 72.2% in the fourth quarter. abrdn plc now owns 230,402 shares of the aircraft producer’s stock worth $60,057,000 after acquiring an additional 96,620 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Boeing by 5.1% in the 4th quarter. Signaturefd LLC now owns 10,766 shares of the aircraft producer’s stock valued at $2,806,000 after acquiring an additional 520 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research reports. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company cut their price objective on Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. StockNews.com downgraded Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.18.

Boeing Stock Performance

Shares of NYSE BA traded up $1.33 during mid-day trading on Wednesday, reaching $173.43. The company had a trading volume of 4,486,909 shares, compared to its average volume of 8,023,812. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The stock’s 50 day moving average is $178.86 and its 200-day moving average is $183.87. The stock has a market capitalization of $106.47 billion, a PE ratio of -48.85 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post -2.38 EPS for the current year.

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.