The Boeing Company (NYSE:BA) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its position in shares of The Boeing Company (NYSE:BA) by 36.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,327 shares of the aircraft producer’s stock after selling 14,640 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Boeing were worth $4,610,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its position in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Wellington Management Group LLP increased its position in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% in 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. Global Assets Advisory LLC acquired a new position in Boeing in the first quarter valued at about $272,312,000. Finally, Vanguard Group Inc. boosted its stake in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $156.77 on Monday. The company has a market capitalization of $96.60 billion, a P/E ratio of -44.16 and a beta of 1.57. The Boeing Company has a fifty-two week low of $155.60 and a fifty-two week high of $267.54. The stock has a 50-day simple moving average of $174.10 and a 200-day simple moving average of $179.04.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) earnings per share. As a group, analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird cut their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Baird R W raised Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Sanford C. Bernstein dropped their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Bank of America lifted their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.