Ropes Wealth Advisors LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Ropes Wealth Advisors LLC cut its stake in The Boeing Company (NYSE:BAGet Rating) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,229 shares of the aircraft producer’s stock after selling 1,481 shares during the period. Ropes Wealth Advisors LLC’s holdings in Boeing were worth $1,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BA. Geode Capital Management LLC increased its holdings in Boeing by 3.0% during the third quarter. Geode Capital Management LLC now owns 8,408,616 shares of the aircraft producer’s stock valued at $1,843,585,000 after buying an additional 241,988 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Boeing by 4.0% during the 4th quarter. Northern Trust Corp now owns 5,013,641 shares of the aircraft producer’s stock valued at $1,009,346,000 after buying an additional 193,777 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Boeing during the 3rd quarter valued at $329,579,000. Invesco Ltd. grew its holdings in Boeing by 1.1% during the 3rd quarter. Invesco Ltd. now owns 1,225,603 shares of the aircraft producer’s stock valued at $269,559,000 after buying an additional 13,398 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Boeing by 9.5% during the 3rd quarter. California Public Employees Retirement System now owns 1,191,277 shares of the aircraft producer’s stock valued at $262,009,000 after buying an additional 102,973 shares in the last quarter. 53.96% of the stock is currently owned by institutional investors.

Several research analysts recently commented on the company. The Goldman Sachs Group set a $300.00 price target on Boeing and gave the stock a “buy” rating in a research report on Wednesday, January 26th. Langenberg & Company began coverage on Boeing in a report on Wednesday, March 9th. They issued a “buy” rating on the stock. UBS Group set a $263.00 target price on shares of Boeing and gave the company a “buy” rating in a research report on Thursday, April 28th. Morgan Stanley cut their target price on Boeing from $288.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, April 8th. Finally, Zacks Investment Research lowered Boeing from a “hold” rating to a “strong sell” rating and set a $163.00 target price on the stock. in a research note on Friday, April 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $229.24.

Shares of NYSE BA traded up $4.06 during midday trading on Friday, reaching $127.20. The company’s stock had a trading volume of 20,850,964 shares, compared to its average volume of 10,109,236. The company has a 50 day moving average price of $172.87 and a 200 day moving average price of $195.54. The Boeing Company has a one year low of $120.28 and a one year high of $258.40. The company has a market cap of $75.26 billion, a price-to-earnings ratio of -15.38, a price-to-earnings-growth ratio of 84.75 and a beta of 1.47.

Boeing (NYSE:BAGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($2.48). The company had revenue of $13.99 billion during the quarter, compared to analysts’ expectations of $15.90 billion. During the same period last year, the firm posted ($1.53) earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. Research analysts anticipate that The Boeing Company will post -0.12 EPS for the current year.

In other Boeing news, Director Lawrence W. Kellner purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The stock was acquired at an average cost of $208.91 per share, with a total value of $1,044,550.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Boeing Profile (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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