Highland Capital Management LLC Sells 1,685 Shares of The Boeing Company (NYSE:BA)

Highland Capital Management LLC decreased its stake in The Boeing Company (NYSE:BA) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,048 shares of the aircraft producer’s stock after selling 1,685 shares during the quarter. Highland Capital Management LLC’s holdings in Boeing were worth $4,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the fourth quarter valued at $26,000. Evolution Advisers Inc. acquired a new stake in shares of Boeing during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Boeing during the fourth quarter worth $28,000. Vima LLC acquired a new stake in Boeing in the 4th quarter worth about $34,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter worth approximately $34,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.3 %

Shares of NYSE:BA traded up $2.20 during midday trading on Friday, reaching $174.96. The company had a trading volume of 4,405,948 shares, compared to its average volume of 7,969,573. The company’s 50 day moving average price is $178.48 and its 200 day moving average price is $183.12. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The stock has a market cap of $107.41 billion, a P/E ratio of -49.28 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the business earned ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Research analysts forecast that The Boeing Company will post -2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BA. Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein lowered their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Argus lowered Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird dropped their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average price target 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.