Capital Planning LLC Cuts Stake in The Boeing Company (NYSE:BA)

Capital Planning LLC decreased its holdings in shares of The Boeing Company (NYSE:BA) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,416 shares of the aircraft producer’s stock after selling 1,562 shares during the quarter. Boeing accounts for about 2.9% of Capital Planning LLC’s investment portfolio, making the stock its 10th biggest position. Capital Planning LLC’s holdings in Boeing were worth $10,871,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new position in Boeing in the third quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new position in Boeing in the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing in the second quarter worth approximately $33,000. Planning Capital Management Corp grew its stake in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in Boeing in the third quarter worth approximately $58,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent research reports. TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Robert W. Baird dropped their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Susquehanna dropped their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

Shares of BA stock opened at $168.91 on Friday. The business has a fifty day moving average of $162.40 and a 200 day moving average of $164.98. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) EPS. Equities research analysts anticipate that The Boeing Company will post -16.43 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.