The Boeing Company (NYSE:BA) Position Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,478 shares of the aircraft producer’s stock after selling 1,936 shares during the period. MetLife Investment Management LLC’s holdings in Boeing were worth $23,791,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BA. Janus Henderson Group PLC increased its stake in Boeing by 21.3% in the 1st quarter. Janus Henderson Group PLC now owns 93,046 shares of the aircraft producer’s stock valued at $17,948,000 after buying an additional 16,342 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Boeing by 60.7% in the first quarter. iA Global Asset Management Inc. now owns 16,527 shares of the aircraft producer’s stock worth $3,190,000 after acquiring an additional 6,242 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of Boeing by 24.3% in the first quarter. Strategic Wealth Partners Ltd. now owns 1,590 shares of the aircraft producer’s stock worth $307,000 after acquiring an additional 311 shares during the last quarter. LRI Investments LLC acquired a new position in Boeing in the 1st quarter worth about $138,000. Finally, Atria Investments Inc increased its holdings in Boeing by 18.2% in the first quarter. Atria Investments Inc now owns 63,765 shares of the aircraft producer’s stock worth $12,307,000 after buying an additional 9,841 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BA. Morgan Stanley decreased their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

Shares of BA stock opened at $152.42 on Thursday. The stock has a market cap of $94.23 billion, a PE ratio of -11.82 and a beta of 1.57. The stock has a 50-day moving average of $151.48 and a 200-day moving average of $167.77. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($3.26) EPS. As a group, research analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current year.

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.