DAVENPORT & Co LLC Sells 418 Shares of The Boeing Company (NYSE:BA)

DAVENPORT & Co LLC reduced its stake in The Boeing Company (NYSE:BAFree Report) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 24,432 shares of the aircraft producer’s stock after selling 418 shares during the period. DAVENPORT & Co LLC’s holdings in Boeing were worth $6,368,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. United Bank grew its stake in Boeing by 4.7% in the 1st quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after buying an additional 226 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Boeing by 1,064.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after acquiring an additional 777 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Boeing by 68.0% in the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock worth $1,362,000 after purchasing an additional 2,879 shares during the period. Prudential PLC acquired a new position in shares of Boeing during the 1st quarter worth about $836,000. Finally, Dakota Wealth Management increased its position in Boeing by 26.7% in the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock worth $408,000 after buying an additional 448 shares during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BA. Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Northcoast Research lowered shares of Boeing from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd. Susquehanna decreased their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research report on Thursday, March 21st. The Goldman Sachs Group cut their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Boeing from $270.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.53.

Check Out Our Latest Analysis on BA

Boeing Trading Down 1.6 %

Shares of BA stock opened at $184.98 on Thursday. The Boeing Company has a 1 year low of $176.25 and a 1 year high of $267.54. The firm’s 50 day moving average is $198.22 and its 200-day moving average is $209.15. The firm has a market capitalization of $112.86 billion, a price-to-earnings ratio of -50.27, a PEG ratio of 47.58 and a beta of 1.52.

Boeing (NYSE:BAGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.75) EPS. On average, equities research analysts forecast that The Boeing Company will post 1 earnings per share for the current fiscal year.

Boeing Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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