Princeton Capital Management LLC Decreases Stock Position in The Boeing Company (NYSE:BA)

Princeton Capital Management LLC cut its position in The Boeing Company (NYSE:BA) by 15.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,919 shares of the aircraft producer’s stock after selling 723 shares during the quarter. Princeton Capital Management LLC’s holdings in Boeing were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BA. Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Wulff Hansen & CO. raised its holdings in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Boeing by 79.0% during the first quarter. Canada Pension Plan Investment Board now owns 726,254 shares of the aircraft producer’s stock worth $140,160,000 after purchasing an additional 320,502 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

NYSE:BA opened at $143.89 on Tuesday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The company has a 50-day moving average of $152.82 and a 200-day moving average of $169.19.

Boeing (NYSE:BA) last announced its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on BA shares. TD Cowen dropped their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $190.37.

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.