Levin Capital Strategies L.P. Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Levin Capital Strategies L.P. decreased its stake in shares of The Boeing Company (NYSE:BA) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,223 shares of the aircraft producer’s stock after selling 400 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Boeing were worth $1,497,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $26,000. Vima LLC bought a new stake in shares of Boeing in the 4th quarter worth $34,000. Accent Capital Management LLC purchased a new position in shares of Boeing in the fourth quarter worth $39,000. Frank Rimerman Advisors LLC bought a new position in shares of Boeing during the fourth quarter valued at $48,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter valued at $34,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA opened at $162.92 on Tuesday. The stock has a market capitalization of $100.39 billion, a price-to-earnings ratio of -45.89 and a beta of 1.58. The Boeing Company has a fifty-two week low of $156.70 and a fifty-two week high of $267.54. The company has a fifty day moving average of $176.06 and a 200 day moving average of $180.23.

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 firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the business earned ($0.82) earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. Bank of America raised their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Robert W. Baird dropped their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein lowered 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, Wells Fargo & Company restated an “underweight” rating and set a $119.00 target price (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.