DRW Securities LLC Sells 15,703 Shares of The Boeing Company (NYSE:BA)

DRW Securities LLC lowered its stake in The Boeing Company (NYSE:BA) by 74.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,397 shares of the aircraft producer’s stock after selling 15,703 shares during the quarter. DRW Securities LLC’s holdings in Boeing were worth $821,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bedell Frazier Investment Counselling LLC grew its position in Boeing by 41.3% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 11,194 shares of the aircraft producer’s stock valued at $1,702,000 after purchasing an additional 3,274 shares during the period. Davis R M Inc. grew its position in Boeing by 8.3% in the 3rd quarter. Davis R M Inc. now owns 3,000 shares of the aircraft producer’s stock valued at $456,000 after purchasing an additional 231 shares during the period. Fisher Asset Management LLC grew its position in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares during the period. Daiwa Securities Group Inc. grew its position in Boeing by 5.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 148,852 shares of the aircraft producer’s stock valued at $22,631,000 after purchasing an additional 8,085 shares during the period. Finally, Larson Financial Group LLC grew its position in Boeing by 10.8% in the 3rd quarter. Larson Financial Group LLC now owns 16,324 shares of the aircraft producer’s stock valued at $2,482,000 after purchasing an additional 1,589 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BA shares. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup cut their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Robert W. Baird cut their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

Shares of Boeing stock opened at $153.08 on Tuesday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54. The stock’s 50-day simple moving average is $151.65 and its 200 day simple moving average is $168.08. The stock has a market capitalization of $94.63 billion, a P/E ratio of -11.87 and a beta of 1.57.

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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company earned ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal 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.