DRW Securities LLC Sells 15,703 Shares of The Boeing Company (NYSE:BA)

DRW Securities LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 74.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,397 shares of the aircraft producer’s stock after selling 15,703 shares during the period. DRW Securities LLC’s holdings in Boeing were worth $821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Up 2.5 %

Shares of Boeing stock opened at $153.08 on Tuesday. The company has a market cap of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57. The business has a 50 day moving average of $151.65 and a 200 day moving average of $168.08. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) 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. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.26) EPS. On average, research analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $190.11.

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.