Guardian Investment Management Decreases Stake in The Boeing Company (NYSE:BA)

Guardian Investment Management lowered its holdings in The Boeing Company (NYSE:BA) by 53.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,710 shares of the aircraft producer’s stock after selling 9,000 shares during the quarter. Guardian Investment Management’s holdings in Boeing were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Boeing in the first quarter worth $272,312,000. Vanguard Group Inc. grew its holdings in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Van ECK Associates Corp grew its holdings in shares of Boeing by 9,626.0% in the second quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after acquiring an additional 1,015,542 shares during the period. Finally, Wulff Hansen & CO. grew its holdings in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 3.0 %

Shares of NYSE:BA traded up $4.40 during mid-day trading on Friday, reaching $151.02. The stock had a trading volume of 10,688,553 shares, compared to its average volume of 8,051,483. The company has a market cap of $92.71 billion, a P/E ratio of -42.54 and a beta of 1.57. The Boeing Company has a 1 year low of $146.26 and a 1 year high of $267.54. The business’s 50 day moving average price is $162.41 and its 200 day moving average price is $173.85.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company cut their price target on Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a report on Tuesday, October 1st. Sanford C. Bernstein cut their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.00.

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.