New York State Common Retirement Fund Reduces Stock Position in The Boeing Company (NYSE:BA)

New York State Common Retirement Fund trimmed its holdings in The Boeing Company (NYSE:BA) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 743,094 shares of the aircraft producer’s stock after selling 39,670 shares during the period. New York State Common Retirement Fund’s holdings in Boeing were worth $112,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hartford Financial Management Inc. boosted its holdings in shares of Boeing by 2.7% in the third quarter. Hartford Financial Management Inc. now owns 10,073 shares of the aircraft producer’s stock worth $1,531,000 after acquiring an additional 267 shares during the period. Stephens Inc. AR lifted its holdings in Boeing by 3.4% during the 3rd quarter. Stephens Inc. AR now owns 41,160 shares of the aircraft producer’s stock worth $6,258,000 after purchasing an additional 1,339 shares in the last quarter. Reston Wealth Management LLC bought a new position in Boeing in the 3rd quarter worth about $106,000. United Asset Strategies Inc. grew its holdings in Boeing by 3.3% during the 3rd quarter. United Asset Strategies Inc. now owns 3,460 shares of the aircraft producer’s stock valued at $526,000 after buying an additional 110 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in shares of Boeing by 7.4% during the third quarter. Rosenberg Matthew Hamilton now owns 1,458 shares of the aircraft producer’s stock valued at $222,000 after buying an additional 100 shares during the period. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BA shares. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group cut their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Three investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $190.42.

Boeing Stock Up 3.5 %

Shares of NYSE BA opened at $154.59 on Friday. The company has a market cap of $95.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.57. The firm’s fifty day moving average is $157.46 and its 200 day moving average is $171.00. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted ($3.26) earnings per share. Equities research analysts anticipate that The Boeing Company will post -16.22 earnings per share for the current year.

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.