Beaton Management Co. Inc. Trims Holdings in The Boeing Company (NYSE:BA)

Beaton Management Co. Inc. cut its position in shares of The Boeing Company (NYSE:BA) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,209 shares of the aircraft producer’s stock after selling 84 shares during the quarter. Beaton Management Co. Inc.’s holdings in Boeing were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BA. ING Groep NV acquired a new position in Boeing in the 3rd quarter valued at $11,679,000. Lazari Capital Management Inc. lifted its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after buying an additional 8,309 shares during the period. Patten & Patten Inc. TN boosted its stake in Boeing by 19.8% in the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares during the last quarter. Czech National Bank grew its holdings in Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Boeing by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,589,850 shares of the aircraft producer’s stock worth $241,721,000 after acquiring an additional 35,068 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BA. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Finally, Wells Fargo & Company cut their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Price Performance

Shares of Boeing stock opened at $140.19 on Friday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The company has a market capitalization of $86.67 billion, a PE ratio of -10.87 and a beta of 1.57. The business has a 50-day moving average of $153.20 and a 200-day moving average of $169.45.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter last year, the firm posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

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.