US Bancorp DE Sells 25,328 Shares of The Boeing Company (NYSE:BA)

US Bancorp DE lessened its holdings in The Boeing Company (NYSE:BA) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,649 shares of the aircraft producer’s stock after selling 25,328 shares during the period. US Bancorp DE’s holdings in Boeing were worth $35,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BA. HM Payson & Co. raised its holdings in shares of Boeing by 2.7% in the third quarter. HM Payson & Co. now owns 3,087 shares of the aircraft producer’s stock valued at $469,000 after purchasing an additional 81 shares during the last quarter. Sippican Capital Advisors boosted its position in Boeing by 17.6% during the third quarter. Sippican Capital Advisors now owns 7,557 shares of the aircraft producer’s stock worth $1,149,000 after purchasing an additional 1,131 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Boeing by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 30,067 shares of the aircraft producer’s stock valued at $4,571,000 after buying an additional 1,184 shares in the last quarter. Solidarity Wealth LLC lifted its position in shares of Boeing by 20.0% during the third quarter. Solidarity Wealth LLC now owns 1,530 shares of the aircraft producer’s stock worth $233,000 after acquiring an additional 255 shares in the last quarter. Finally, Cornerstone Wealth Group LLC bought a new stake in Boeing during the third quarter valued at approximately $200,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 3.2 %

Boeing stock opened at $149.29 on Friday. The Boeing Company has a 1-year low of $146.02 and a 1-year high of $267.54. The firm has a market cap of $92.29 billion, a P/E ratio of -11.57 and a beta of 1.57. The firm has a 50-day moving average of $157.86 and a 200-day moving average of $171.09.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($3.26) EPS. Research analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BA. Wells Fargo & Company lowered their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.42.

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.