Ferguson Wellman Capital Management Inc. Sells 2,045 Shares of The Boeing Company (NYSE:BA)

Ferguson Wellman Capital Management Inc. reduced its stake in The Boeing Company (NYSE:BA) by 25.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,915 shares of the aircraft producer’s stock after selling 2,045 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Boeing were worth $899,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing during the 2nd quarter worth approximately $39,000. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

BA opened at $155.00 on Friday. The company’s 50-day moving average is $161.10 and its 200 day moving average is $172.53. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm has a market capitalization of $95.15 billion, a P/E ratio of -43.66 and a beta of 1.57.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna dropped their price target on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $198.79.

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.