The Boeing Company (NYSE:BA) Stock Position Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in shares of The Boeing Company (NYSE:BA) by 44.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the aircraft producer’s stock after selling 1,972 shares during the quarter. King Luther Capital Management Corp’s holdings in Boeing were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BA. Madison Park Capital Advisors LLC lifted its stake in shares of Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after acquiring an additional 56 shares during the period. Wealth Alliance Advisory Group LLC lifted its position in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. IMS Capital Management boosted its stake in shares of Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the last quarter. ADE LLC grew its position in shares of Boeing by 4.4% during the 2nd quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after buying an additional 65 shares during the period. Finally, Peoples Financial Services CORP. lifted its holdings in Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Up 4.1 %

Boeing stock opened at $149.29 on Friday. The company has a fifty day simple moving average of $151.70 and a 200 day simple moving average of $168.36. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The company has a market cap of $92.29 billion, a P/E ratio of -11.57 and a beta of 1.57.

Boeing (NYSE:BA) last released 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 analyst estimates of $17.81 billion. During the same quarter in the prior year, the company posted ($3.26) earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -16.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on BA. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus upped their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $190.37.

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.