Pinnacle West Asset Management Inc. Sells 265 Shares of The Boeing Company (NYSE:BA)

Pinnacle West Asset Management Inc. lowered its position in The Boeing Company (NYSE:BA) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,355 shares of the aircraft producer’s stock after selling 265 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Boeing were worth $793,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the fourth quarter valued at $26,000. Vima LLC purchased a new position in shares of Boeing in the fourth quarter valued at about $34,000. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the second quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its position in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Bfsg LLC purchased a new position in shares of Boeing in the first quarter valued at about $39,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the topic of several research analyst reports. Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Finally, Sanford C. Bernstein decreased their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Price Performance

Shares of NYSE BA opened at $157.62 on Monday. The business’s 50 day moving average is $176.53 and its two-hundred day moving average is $180.50. The Boeing Company has a 1-year low of $156.70 and a 1-year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. On average, research analysts predict that The Boeing Company will post -4.26 EPS for the current year.

About Boeing

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.