Glen Eagle Advisors LLC Sells 105 Shares of The Boeing Company (NYSE:BA)

Glen Eagle Advisors LLC trimmed its position in The Boeing Company (NYSE:BA) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 407 shares of the aircraft producer’s stock after selling 105 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Boeing were worth $62,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BA. Rockefeller Capital Management L.P. increased its stake in Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares during the last quarter. Jennison Associates LLC increased its position in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. ING Groep NV purchased a new stake in Boeing during the third quarter valued at $11,679,000. Lazari Capital Management Inc. lifted its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boeing in the 3rd quarter worth $636,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA opened at $153.93 on Friday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The stock has a market capitalization of $95.16 billion, a price-to-earnings ratio of -11.93 and a beta of 1.56. The company has a fifty day moving average of $151.58 and a two-hundred day moving average of $166.46.

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 business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($3.26) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on BA shares. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $190.11.

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.