Abbot Financial Management Inc. Trims Holdings in The Boeing Company (NYSE:BA)

Abbot Financial Management Inc. decreased its position in shares of The Boeing Company (NYSE:BA) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,675 shares of the aircraft producer’s stock after selling 218 shares during the period. Abbot Financial Management Inc.’s holdings in Boeing were worth $851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brio Consultants LLC acquired a new stake in shares of Boeing in the fourth quarter valued at $207,000. Gryphon Financial Partners LLC acquired a new stake in Boeing in the 4th quarter valued at about $258,000. Brown Advisory Inc. grew its position in shares of Boeing by 3.2% during the fourth quarter. Brown Advisory Inc. now owns 45,211 shares of the aircraft producer’s stock worth $11,785,000 after buying an additional 1,395 shares in the last quarter. Main Street Financial Solutions LLC purchased a new stake in shares of Boeing during the fourth quarter worth approximately $252,000. Finally, Coldstream Capital Management Inc. raised its holdings in Boeing by 1.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 22,263 shares of the aircraft producer’s stock valued at $5,803,000 after acquiring an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.8 %

NYSE BA opened at $155.54 on Tuesday. The business’s 50-day moving average price is $173.49 and its 200 day moving average price is $178.70. The firm has a market cap of $95.48 billion, a P/E ratio of -43.81 and a beta of 1.57. The Boeing Company has a 52-week low of $154.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Sanford C. Bernstein lowered their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Bank of America raised their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Finally, Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $211.29.

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.