Verus Capital Partners LLC Reduces Stock Position in The Boeing Company (NYSE:BA)

Verus Capital Partners LLC decreased its holdings in The Boeing Company (NYSE:BA) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,689 shares of the aircraft producer’s stock after selling 522 shares during the period. Verus Capital Partners LLC’s holdings in Boeing were worth $2,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC raised its position in Boeing by 44.6% during the 1st quarter. Empowered Funds LLC now owns 11,940 shares of the aircraft producer’s stock valued at $2,304,000 after purchasing an additional 3,680 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Boeing by 1.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 125,906 shares of the aircraft producer’s stock valued at $24,299,000 after acquiring an additional 1,373 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Boeing by 10.9% in the first quarter. Bleakley Financial Group LLC now owns 15,536 shares of the aircraft producer’s stock valued at $2,998,000 after acquiring an additional 1,527 shares in the last quarter. Entropy Technologies LP lifted its stake in Boeing by 329.3% in the first quarter. Entropy Technologies LP now owns 22,352 shares of the aircraft producer’s stock worth $4,314,000 after acquiring an additional 17,145 shares during the period. Finally, Pettyjohn Wood & White Inc. increased its position in Boeing by 2.9% during the 1st quarter. Pettyjohn Wood & White Inc. now owns 18,427 shares of the aircraft producer’s stock valued at $3,556,000 after purchasing an additional 516 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

BA stock opened at $148.96 on Tuesday. The firm’s fifty day simple moving average is $154.81 and its 200-day simple moving average is $170.26. The Boeing Company has a 12 month low of $144.13 and a 12 month high of $267.54. The company has a market capitalization of $92.09 billion, a P/E ratio of -11.55 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results 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 the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -16.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BA shares. UBS Group lowered their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $190.37.

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.