SOL Capital Management CO Cuts Holdings in The Boeing Company (NYSE:BA)

SOL Capital Management CO reduced its position in The Boeing Company (NYSE:BA) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,475 shares of the aircraft producer’s stock after selling 1,280 shares during the period. SOL Capital Management CO’s holdings in Boeing were worth $1,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in shares of Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares during the last quarter. Carnegie Investment Counsel lifted its position in Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BA. UBS Group lifted their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $195.00.

Boeing Stock Down 1.8 %

Shares of BA opened at $176.26 on Friday. The company has a market capitalization of $108.96 billion, a price-to-earnings ratio of -9.62 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $214.63. The stock’s 50-day moving average price is $168.96 and its 200-day moving average price is $164.37.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the firm posted ($0.47) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -1.61 EPS 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.