Oppenheimer & Co. Inc. Decreases Position in The Boeing Company (NYSE:BA)

Oppenheimer & Co. Inc. trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,336 shares of the aircraft producer’s stock after selling 3,044 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boeing were worth $5,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the second quarter worth $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the 2nd quarter valued at approximately $39,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $41,000. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of NYSE BA opened at $138.13 on Friday. The stock has a market cap of $85.39 billion, a PE ratio of -10.71 and a beta of 1.57. The Boeing Company has a 1 year low of $137.22 and a 1 year high of $267.54. The firm has a fifty day moving average price of $154.03 and a 200-day moving average price of $169.89.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, research analysts expect that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.