Cambridge Investment Research Advisors Inc. Decreases Stake in The Boeing Company (NYSE:BA)

Cambridge Investment Research Advisors Inc. lowered its stake in The Boeing Company (NYSE:BA) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,526 shares of the aircraft producer’s stock after selling 16,380 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Boeing were worth $33,682,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing during the fourth quarter worth $26,000. Evolution Advisers Inc. purchased a new position in Boeing in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Boeing in the fourth quarter valued at $28,000. Vima LLC purchased a new position in Boeing in the fourth quarter valued at $34,000. Finally, Bfsg LLC purchased a new position in Boeing in the first quarter valued at $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group cut their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Wells Fargo & Company cut their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $240.00 target price on shares of Boeing in a research report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $221.24.

Boeing Trading Down 7.6 %

BA stock traded down $14.11 during trading on Thursday, reaching $172.17. 17,100,048 shares of the stock were exchanged, compared to its average volume of 9,167,491. The business has a 50 day moving average price of $179.17 and a 200-day moving average price of $205.56. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm has a market capitalization of $105.69 billion, a price-to-earnings ratio of -48.50 and a beta of 1.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. On average, research analysts anticipate that The Boeing Company will post -0.6 EPS for the current year.

Boeing 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.