The Boeing Company (NYSE:BA) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its stake in The Boeing Company (NYSE:BA) by 19.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,596 shares of the aircraft producer’s stock after selling 1,311 shares during the quarter. Carnegie Investment Counsel’s holdings in Boeing were worth $1,019,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BA. Capital Research Global Investors raised its stake in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Jennison Associates LLC purchased a new position in Boeing during the 4th quarter worth approximately $960,397,000. Wellington Management Group LLP lifted its stake in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Boeing by 861.6% in the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after acquiring an additional 1,617,151 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock traded up $0.13 during midday trading on Wednesday, reaching $172.23. The company had a trading volume of 1,511,637 shares, compared to its average volume of 8,005,401. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The company has a market capitalization of $105.73 billion, a P/E ratio of -48.48 and a beta of 1.56. The firm’s fifty day simple moving average is $178.86 and its 200-day simple moving average is $183.87.

Boeing (NYSE:BA) last released its earnings results 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 firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts expect that The Boeing Company will post -2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company reduced their price target on Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.18.

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.