Absher Wealth Management LLC Sells 4,964 Shares of The Boeing Company (NYSE:BA)

Absher Wealth Management LLC cut its stake in The Boeing Company (NYSE:BA) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,552 shares of the aircraft producer’s stock after selling 4,964 shares during the quarter. Boeing comprises 2.1% of Absher Wealth Management LLC’s holdings, making the stock its 27th largest holding. Absher Wealth Management LLC’s holdings in Boeing were worth $16,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. Van ECK Associates Corp increased its position in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Franklin Resources Inc. grew its holdings in Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares in the last quarter. State Street Corp boosted its position in 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 acquiring an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings 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 in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 3.2 %

Boeing stock opened at $181.80 on Thursday. The stock has a market cap of $112.39 billion, a P/E ratio of -9.92 and a beta of 1.52. The company has a fifty day simple moving average of $170.47 and a 200-day simple moving average of $164.00. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $213.77.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the business earned ($0.47) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BA shares. Citigroup dropped their price objective on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, January 24th. UBS Group upped their price objective on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Susquehanna lifted their target price on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein lowered shares of 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.