Financial Management Network Inc. Sells 1,201 Shares of The Boeing Company (NYSE:BA)

Financial Management Network Inc. trimmed its holdings in The Boeing Company (NYSE:BA) by 15.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,436 shares of the aircraft producer’s stock after selling 1,201 shares during the quarter. Financial Management Network Inc.’s holdings in Boeing were worth $998,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Madison Park Capital Advisors LLC grew its holdings in Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after buying an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in shares of Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC lifted its holdings in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after buying an additional 61 shares in the last quarter. IMS Capital Management raised its stake in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Boeing by 0.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

NYSE BA traded up $0.70 during trading on Friday, reaching $155.90. The company’s stock had a trading volume of 1,410,328 shares, compared to its average volume of 8,096,203. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The firm has a market cap of $95.70 billion, a price-to-earnings ratio of -43.72 and a beta of 1.57. The business’s fifty day moving average price is $160.61 and its 200-day moving average price is $172.01.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the company earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -5.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday. Sanford C. Bernstein dropped their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.79.

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.