Roanoke Asset Management Corp NY Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Roanoke Asset Management Corp NY lessened its position in The Boeing Company (NYSE:BA) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,996 shares of the aircraft producer’s stock after selling 80 shares during the quarter. Boeing makes up about 1.4% of Roanoke Asset Management Corp NY’s portfolio, making the stock its 27th largest holding. Roanoke Asset Management Corp NY’s holdings in Boeing were worth $4,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazari Capital Management Inc. lifted its position in shares of Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Czech National Bank increased its holdings in shares of Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of Boeing in the third quarter valued at approximately $11,237,000. Sanctuary Advisors LLC acquired a new stake in shares of Boeing in the second quarter valued at approximately $21,405,000. Finally, Williams Financial LLC acquired a new stake in shares of Boeing in the second quarter valued at approximately $1,637,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $154.59 on Friday. The business has a 50-day moving average of $157.46 and a two-hundred day moving average of $171.00. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The company has a market capitalization of $95.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the business earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that The Boeing Company will post -16.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BA. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $190.42.

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.