Lynch & Associates IN Reduces Stock Position in The Boeing Company (NYSE:BA)

Lynch & Associates IN decreased its position in The Boeing Company (NYSE:BA) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,639 shares of the aircraft producer’s stock after selling 724 shares during the quarter. Lynch & Associates IN’s holdings in Boeing were worth $3,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Sanders Morris Harris LLC lifted its stake in Boeing by 869.1% in the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after acquiring an additional 20,425 shares during the period. Park Avenue Securities LLC increased its position in shares of Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after buying an additional 1,805 shares during the period. Williams Financial LLC bought a new position in Boeing in the second quarter worth about $1,637,000. Dakota Wealth Management lifted its holdings in Boeing by 47.1% in the first quarter. Dakota Wealth Management now owns 12,730 shares of the aircraft producer’s stock worth $2,457,000 after buying an additional 4,078 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in Boeing during the 2nd quarter valued at approximately $561,000. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BA. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Robert W. Baird dropped their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Sanford C. Bernstein dropped their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Down 2.8 %

Shares of NYSE BA opened at $157.62 on Friday. The firm’s 50-day moving average price is $176.53 and its 200-day moving average price is $180.65. The Boeing Company has a 52-week low of $156.70 and a 52-week high of $267.54. The company has a market cap of $96.76 billion, a PE ratio of -44.40 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.82) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -4.26 EPS 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.