Intech Investment Management LLC Sells 47,185 Shares of The Boeing Company (NYSE:BA)

Intech Investment Management LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,170 shares of the aircraft producer’s stock after selling 47,185 shares during the quarter. Intech Investment Management LLC’s holdings in Boeing were worth $13,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the second quarter worth approximately $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing in the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boeing during the 2nd quarter valued at $39,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Stock Down 1.5 %

Shares of BA stock opened at $143.83 on Friday. The stock has a market cap of $88.92 billion, a P/E ratio of -11.15 and a beta of 1.57. The company’s fifty day simple moving average is $151.85 and its two-hundred day simple moving average is $168.62. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released 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 analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) EPS. On average, analysts anticipate that The Boeing Company will post -16.2 EPS 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.