The Boeing Company (NYSE:BA) Stock Position Reduced by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its stake in shares of The Boeing Company (NYSE:BA) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,573,538 shares of the aircraft producer’s stock after selling 255,628 shares during the period. Boeing accounts for about 2.9% of Loomis Sayles & Co. L P’s holdings, making the stock its 10th biggest position. Loomis Sayles & Co. L P’s holdings in Boeing were worth $2,215,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $33,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Boeing by 351.1% in the second 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing during the second quarter valued at approximately $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $149.29 on Monday. The firm has a fifty day moving average of $151.70 and a 200-day moving average of $168.27. 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 results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.26) earnings per share. Sell-side analysts expect that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BA shares. Deutsche Bank Aktiengesellschaft dropped their price target 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. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $190.37.

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.