Sterling Investment Management LLC Sells 495 Shares of The Boeing Company (NYSE:BA)

Sterling Investment Management LLC trimmed its stake in shares of The Boeing Company (NYSE:BA) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 8,144 shares of the aircraft producer’s stock after selling 495 shares during the quarter. Sterling Investment Management LLC’s holdings in Boeing were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter worth $33,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing during the second quarter worth $39,000. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Sanford C. Bernstein dropped their target price on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday. TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Susquehanna dropped their target price on Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.79.

Boeing Price Performance

Shares of BA stock opened at $155.00 on Monday. The business’s 50 day simple moving average is $161.10 and its 200 day simple moving average is $172.44. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The stock has a market capitalization of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the firm earned ($0.82) EPS. Boeing’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -5.35 earnings per share 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.