DB Fitzpatrick & Co Inc Trims Stock Position in The Boeing Company (NYSE:BA)

DB Fitzpatrick & Co Inc decreased its stake in The Boeing Company (NYSE:BA) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,032 shares of the aircraft producer’s stock after selling 644 shares during the quarter. Boeing makes up 1.5% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 16th largest position. DB Fitzpatrick & Co Inc’s holdings in Boeing were worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing in the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter worth about $33,000. Planning Capital Management Corp boosted its position in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Boeing in the third quarter valued at approximately $58,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BA shares. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Susquehanna decreased 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. Finally, TD Cowen dropped 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 1.3 %

BA stock opened at $171.14 on Friday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59. The business has a fifty day moving average of $162.76 and a two-hundred day moving average of $165.00. The stock has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -16.43 EPS for the current year.

Boeing Company 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.