Sugarloaf Wealth Management LLC Reduces Stock Position in The Boeing Company (NYSE:BA)

Sugarloaf Wealth Management LLC cut its holdings in The Boeing Company (NYSE:BA) by 25.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388 shares of the aircraft producer’s stock after selling 135 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Boeing were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in shares of Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares during the period. Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. World Investment Advisors LLC lifted its stake in shares of Boeing by 243.4% during the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 3,814 shares during the last quarter. Finally, ING Groep NV purchased a new position in Boeing during the 3rd quarter valued at $11,679,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BA. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Trading Up 0.2 %

Shares of BA stock opened at $172.08 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $228.28. The business’s fifty day simple moving average is $161.39 and its 200-day simple moving average is $165.32. The company has a market cap of $106.38 billion, a PE ratio of -13.34 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) earnings per share. On average, equities analysts forecast that The Boeing Company will post -16.18 earnings per share for the current 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.