Harbour Investments Inc. Trims Holdings in The Boeing Company (NYSE:BA)

Harbour Investments Inc. cut its holdings in The Boeing Company (NYSE:BA) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,320 shares of the aircraft producer’s stock after selling 992 shares during the quarter. Harbour Investments Inc.’s holdings in Boeing were worth $961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. lifted its stake in Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Wulff Hansen & CO. lifted its stake in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares during the period. Finally, Newport Trust Company LLC lifted its stake in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 1.3 %

Boeing stock opened at $138.13 on Friday. The firm has a 50 day moving average of $154.03 and a 200 day moving average of $169.89. The firm has a market capitalization of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The Boeing Company has a 12-month low of $137.22 and a 12-month 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 (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 analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that The Boeing Company will post -16.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BA. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Robert W. Baird lowered their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $190.37.

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.