Chevy Chase Trust Holdings LLC Has $47.91 Million Stock Position in The Boeing Company (NYSE:BA)

Chevy Chase Trust Holdings LLC cut its holdings in The Boeing Company (NYSE:BA) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 315,128 shares of the aircraft producer’s stock after selling 1,190 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Boeing were worth $47,912,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC increased its stake in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares during the last quarter. Jennison Associates LLC raised its holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Fisher Asset Management LLC boosted its position in Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock opened at $156.54 on Tuesday. The firm has a market cap of $96.77 billion, a PE ratio of -12.13 and a beta of 1.57. The stock’s fifty day moving average price is $151.48 and its two-hundred day moving average price is $167.35. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.26) earnings per share. Sell-side analysts expect that The Boeing Company will post -16.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BA shares. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Hold” and an average price target of $190.11.

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.