Associated Banc Corp Sells 1,144 Shares of The Boeing Company (NYSE:BA)

Associated Banc Corp cut its position in The Boeing Company (NYSE:BA) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,499 shares of the aircraft producer’s stock after selling 1,144 shares during the period. Associated Banc Corp’s holdings in Boeing were worth $4,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after acquiring an additional 106,513 shares during the period. Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

BA opened at $153.08 on Tuesday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54. The firm has a market capitalization of $94.63 billion, a price-to-earnings ratio of -11.87 and a beta of 1.57. The company’s 50 day moving average price is $151.65 and its two-hundred day moving average price is $168.08.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley dropped 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. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Finally, Susquehanna reduced their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Hold” and an average price target of $190.11.

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.