MAI Capital Management Decreases Position in The Boeing Company (NYSE:BA)

MAI Capital Management reduced its holdings in shares of The Boeing Company (NYSE:BA) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,871 shares of the aircraft producer’s stock after selling 4,406 shares during the period. MAI Capital Management’s holdings in Boeing were worth $5,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter worth $34,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% during 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the second quarter valued at approximately $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Boeing during the first quarter worth approximately $53,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 1.2 %

Shares of NYSE:BA opened at $145.58 on Wednesday. The company has a market capitalization of $90.00 billion, a P/E ratio of -11.29 and a beta of 1.57. The stock’s fifty day simple moving average is $152.53 and its 200-day simple moving average is $168.95. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted 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 analyst estimates of $17.81 billion. During the same period in the previous year, the company posted ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.