Legal Advantage Investments Inc. Trims Position in The Boeing Company (NYSE:BA)

Legal Advantage Investments Inc. cut its holdings in shares of The Boeing Company (NYSE:BA) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,890 shares of the aircraft producer’s stock after selling 1,610 shares during the quarter. Boeing comprises 1.6% of Legal Advantage Investments Inc.’s portfolio, making the stock its 23rd biggest position. Legal Advantage Investments Inc.’s holdings in Boeing were worth $2,990,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased 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. Geode Capital Management LLC increased its holdings in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC increased 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. Fisher Asset Management LLC increased 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. Finally, Legal & General Group Plc increased its holdings in shares of Boeing by 2.0% during the 2nd 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 in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 1.3 %

Shares of BA opened at $171.14 on Tuesday. The firm has a market cap of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59. The company’s 50-day moving average price is $163.15 and its 200 day moving average price is $164.61.

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 the consensus estimate 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 company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($3.26) EPS. Equities research analysts forecast that The Boeing Company will post -16.43 earnings per share for the current year.

Analyst Ratings Changes

BA has been the subject of several recent research reports. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.