Wellington Management Group LLP Sells 2,164,002 Shares of The Boeing Company (NYSE:BA)

Wellington Management Group LLP lowered its holdings in shares of The Boeing Company (NYSE:BA) by 47.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,350,491 shares of the aircraft producer’s stock after selling 2,164,002 shares during the quarter. Wellington Management Group LLP’s holdings in Boeing were worth $357,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Newport Trust Company LLC raised its holdings in shares of Boeing by 1.2% during 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 purchasing an additional 388,633 shares in the last quarter. State Street Corp raised its holdings in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Boeing by 1.4% during the 2nd 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 purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Boeing by 6.0% during the 3rd 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 in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BA shares. TD Cowen dropped their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

Shares of Boeing stock opened at $153.93 on Friday. The firm’s 50-day simple moving average is $151.58 and its 200-day simple moving average is $166.46. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The firm has a market cap of $95.16 billion, a P/E ratio of -11.93 and a beta of 1.56.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

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.