Zimmermann Investment Management & Planning LLC Has $312,000 Stock Holdings in The Boeing Company (NYSE:BA)

Zimmermann Investment Management & Planning LLC cut its stake in The Boeing Company (NYSE:BA) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,713 shares of the aircraft producer’s stock after selling 62 shares during the quarter. Zimmermann Investment Management & Planning LLC’s holdings in Boeing were worth $312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Capital Research Global Investors raised its holdings in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP raised its holdings in Boeing by 563.9% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. Boston Partners raised its holdings in shares of Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after buying an additional 1,617,151 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Boeing during the 1st quarter worth $272,312,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Down 1.3 %

Shares of NYSE BA traded down $2.23 during trading on Wednesday, reaching $170.82. The company had a trading volume of 4,541,378 shares, compared to its average volume of 7,897,000. The company’s fifty day moving average price is $178.34 and its 200-day moving average price is $182.61. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The stock has a market cap of $104.86 billion, a P/E ratio of -48.12 and a beta of 1.56.

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

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group lowered their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Robert W. Baird lowered their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Finally, Sanford C. Bernstein lowered their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.18.

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.