Brown Brothers Harriman & Co. Sells 2,803 Shares of The Boeing Company (NYSE:BA)

Brown Brothers Harriman & Co. cut its stake in The Boeing Company (NYSE:BA) by 10.3% in the third quarter, HoldingsChannel.com reports. The fund owned 24,492 shares of the aircraft producer’s stock after selling 2,803 shares during the period. Brown Brothers Harriman & Co.’s holdings in Boeing were worth $3,724,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bedell Frazier Investment Counselling LLC increased its position in shares of Boeing by 41.3% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 11,194 shares of the aircraft producer’s stock valued at $1,702,000 after buying an additional 3,274 shares in the last quarter. Davis R M Inc. grew its stake in Boeing by 8.3% in the third quarter. Davis R M Inc. now owns 3,000 shares of the aircraft producer’s stock valued at $456,000 after acquiring an additional 231 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Boeing by 5.7% during the third quarter. Daiwa Securities Group Inc. now owns 148,852 shares of the aircraft producer’s stock worth $22,631,000 after purchasing an additional 8,085 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Boeing by 10.8% during the 3rd quarter. Larson Financial Group LLC now owns 16,324 shares of the aircraft producer’s stock valued at $2,482,000 after purchasing an additional 1,589 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BA. Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group dropped their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Citigroup lowered their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Morgan Stanley cut 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Up 2.5 %

Boeing stock opened at $153.08 on Tuesday. The company’s 50-day moving average price is $151.65 and its two-hundred day moving average price is $168.08. The stock has a market cap of $94.63 billion, a P/E ratio of -11.87 and a beta of 1.57. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business 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 revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Boeing 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.