tru Independence LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

tru Independence LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 0.8% during the 1st quarter, Holdings Channel reports. The fund owned 33,718 shares of the aircraft producer’s stock after selling 258 shares during the period. Boeing makes up approximately 1.9% of tru Independence LLC’s investment portfolio, making the stock its 16th biggest position. tru Independence LLC’s holdings in Boeing were worth $6,507,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its holdings in Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC purchased a new stake in Boeing during the 4th quarter valued at $960,397,000. Wellington Management Group LLP raised its holdings in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after buying an additional 1,884,850 shares during the period. Finally, Boston Partners raised its holdings in Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after buying an additional 1,617,151 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.6 %

BA traded down $1.08 during trading on Tuesday, hitting $185.62. The company’s stock had a trading volume of 1,862,412 shares, compared to its average volume of 8,507,113. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The business’s fifty day simple moving average is $178.50 and its 200 day simple moving average is $198.05. The firm has a market capitalization of $113.95 billion, a price-to-earnings ratio of -52.70 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. As a group, equities research analysts forecast that The Boeing Company will post -1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BA. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research report on Wednesday, April 17th. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Sanford C. Bernstein decreased their price objective on Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. UBS Group decreased their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.89.

Boeing 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.