The Boeing Company (NYSE:BA) Position Lowered by ERn Financial LLC

ERn Financial LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,159 shares of the aircraft producer’s stock after selling 215 shares during the period. ERn Financial LLC’s holdings in Boeing were worth $205,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Newport Trust Company LLC lifted its position in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. State Street Corp lifted its position in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after purchasing an additional 320,415 shares during the last quarter. Jennison Associates LLC raised its stake in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Boeing by 6.0% during 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 during the period. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, 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 research note on Monday, September 23rd. Two investment 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 company. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

NYSE BA opened at $168.91 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The firm has a market capitalization of $104.42 billion, a PE ratio of -13.09 and a beta of 1.52. The company’s 50 day simple moving average is $162.40 and its 200 day simple moving average is $164.98.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates 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. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. Sell-side analysts anticipate that The Boeing Company will post -16.43 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.