1832 Asset Management L.P. Decreases Stock Holdings in The Boeing Company (NYSE:BA)

1832 Asset Management L.P. trimmed its position in The Boeing Company (NYSE:BA) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484,421 shares of the aircraft producer’s stock after selling 16,719 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of Boeing worth $93,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the fourth quarter worth $26,000. Evolution Advisers Inc. bought a new stake in Boeing in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the fourth quarter valued at $28,000. Vima LLC bought a new stake in Boeing in the fourth quarter valued at $34,000. Finally, McClarren Financial Advisors Inc. boosted its holdings in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 1.4 %

BA traded up $2.54 during midday trading on Friday, hitting $186.89. 6,271,995 shares of the company traded hands, compared to its average volume of 5,267,864. The firm has a market capitalization of $114.73 billion, a PE ratio of -52.64 and a beta of 1.56. The company’s 50-day moving average is $181.74 and its 200 day moving average is $188.50. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. On average, sell-side analysts predict that The Boeing Company will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BA shares. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Barclays cut their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada dropped their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, Sanford C. Bernstein dropped their target price on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.89.

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.