Qsemble Capital Management LP Sells 2,216 Shares of The Boeing Company (NYSE:BA)

Qsemble Capital Management LP lowered its position in The Boeing Company (NYSE:BA) by 27.9% in the second quarter, Holdings Channel.com reports. The fund owned 5,728 shares of the aircraft producer’s stock after selling 2,216 shares during the period. Qsemble Capital Management LP’s holdings in Boeing were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of BA. Brio Consultants LLC bought a new stake in shares of Boeing in the 4th quarter worth approximately $207,000. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $258,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Boeing by 18.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,789 shares of the aircraft producer’s stock worth $1,770,000 after buying an additional 1,036 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Boeing by 9.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,276 shares of the aircraft producer’s stock worth $1,115,000 after buying an additional 363 shares during the period. Finally, Haverford Trust Co lifted its position in shares of Boeing by 52.0% during the 4th quarter. Haverford Trust Co now owns 3,953 shares of the aircraft producer’s stock worth $1,030,000 after buying an additional 1,352 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $162.77 on Friday. The stock has a fifty day moving average of $174.66 and a 200-day moving average of $179.69. The stock has a market capitalization of $99.92 billion, a P/E ratio of -45.85 and a beta of 1.57. The Boeing Company has a 52 week low of $156.10 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the business posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts forecast that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on BA. Robert W. Baird cut their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. UBS Group cut their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Susquehanna restated a “positive” rating and set a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Finally, Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given 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 $211.29.

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.