Hanson & Doremus Investment Management Sells 353 Shares of The Boeing Company (NYSE:BA)

Hanson & Doremus Investment Management lessened its stake in The Boeing Company (NYSE:BA) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 17,061 shares of the aircraft producer’s stock after selling 353 shares during the period. Hanson & Doremus Investment Management’s holdings in Boeing were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. AdvisorNet Financial Inc raised its holdings in Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the period. Carnegie Investment Counsel raised its stake in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,943 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after buying an additional 38,300 shares in the last quarter. Principal Financial Group Inc. raised its stake in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $174.03 on Thursday. The business’s 50 day moving average price is $167.68 and its 200-day moving average price is $164.19. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $214.63. The company has a market cap of $107.58 billion, a price-to-earnings ratio of -13.49 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the firm earned ($0.47) EPS. Sell-side analysts predict that The Boeing Company will post -16.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird dropped their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

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.