Glenmede Trust Co. NA Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Glenmede Trust Co. NA trimmed its position in shares of The Boeing Company (NYSE:BA) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,186 shares of the aircraft producer’s stock after selling 1,974 shares during the period. Glenmede Trust Co. NA’s holdings in Boeing were worth $9,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cedar Wealth Management LLC purchased a new stake in Boeing during the third quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Susquehanna cut their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Price Performance

NYSE:BA opened at $155.65 on Friday. The company has a market capitalization of $96.22 billion, a price-to-earnings ratio of -12.07 and a beta of 1.57. The business has a 50 day moving average of $151.48 and a 200 day moving average of $167.51. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Boeing Company will post -16.19 EPS for the current year.

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.