Highland Capital Management LLC Has $6.26 Million Position in The Boeing Company (NYSE:BA)

Highland Capital Management LLC cut its stake in The Boeing Company (NYSE:BA) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,028 shares of the aircraft producer’s stock after selling 7,605 shares during the period. Highland Capital Management LLC’s holdings in Boeing were worth $6,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC IL raised its holdings in Boeing by 21.1% in the 3rd quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock valued at $14,395,000 after acquiring an additional 13,079 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of Boeing by 86.8% in the 3rd quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after purchasing an additional 11,510 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of Boeing by 65.0% in the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after purchasing an additional 3,152 shares during the last quarter. Peregrine Asset Advisers Inc. increased its stake in shares of Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after purchasing an additional 33,904 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after purchasing an additional 19,847 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE:BA opened at $191.96 on Thursday. The company has a market capitalization of $117.12 billion, a price-to-earnings ratio of -51.89, a P/E/G ratio of 30.94 and a beta of 1.52. The business’s 50-day moving average is $200.81 and its 200-day moving average is $209.96. The Boeing Company has a 1 year low of $176.25 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.75) earnings per share. Analysts anticipate that The Boeing Company will post 1.55 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price target on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada reduced their price objective on Boeing from $285.00 to $260.00 and set an “outperform” rating on the stock in a research report on Thursday, February 1st. Barclays boosted their price objective on Boeing from $210.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 6th. Finally, TD Cowen reduced their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.65.

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.