Ferguson Wellman Capital Management Inc. Sells 934 Shares of The Boeing Company (NYSE:BA)

Ferguson Wellman Capital Management Inc. cut its stake in The Boeing Company (NYSE:BAFree Report) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,026 shares of the aircraft producer’s stock after selling 934 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Boeing were worth $1,068,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the 2nd quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the 2nd quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew its position 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 purchasing an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Boeing during the 2nd quarter valued at about $41,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 1.3 %

NYSE BA opened at $138.13 on Friday. The Boeing Company has a 12 month low of $137.22 and a 12 month high of $267.54. The company’s 50 day moving average is $154.03 and its two-hundred day moving average is $169.89. The stock has a market cap of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57.

Boeing (NYSE:BAGet Free Report) last announced 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BA shares. Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Citigroup lowered their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. TD Cowen lowered their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus target price of $190.37.

View Our Latest Report on Boeing

Boeing Company 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.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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