Birmingham Capital Management Co. Inc. AL Lowers Stock Position in The Boeing Company (NYSE:BA)

Birmingham Capital Management Co. Inc. AL lowered its position in shares of The Boeing Company (NYSE:BA) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,747 shares of the aircraft producer’s stock after selling 100 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Boeing were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BA. Van ECK Associates Corp grew its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC increased its position in 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 valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the period. Wulff Hansen & CO. lifted its position in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BA. Wells Fargo & Company cut their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Morgan Stanley decreased their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Robert W. Baird dropped their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Susquehanna decreased their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

BA traded up $0.34 during trading hours on Friday, hitting $168.09. 2,598,284 shares of the company’s stock were exchanged, compared to its average volume of 9,199,844. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54. The firm has a 50 day moving average of $152.49 and a 200 day moving average of $166.16.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned ($3.26) EPS. On average, research analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

About Boeing

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.