Lakeside Advisors INC. Decreases Stake in The Boeing Company (NYSE:BA)

Lakeside Advisors INC. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 3,480 shares of the aircraft producer’s stock after selling 150 shares during the period. Lakeside Advisors INC.’s holdings in Boeing were worth $529,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Newport Trust Company LLC grew its holdings in Boeing by 1.2% in the second 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 purchasing an additional 106,513 shares during the last quarter. Jennison Associates LLC increased its position in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares in the last quarter. Finally, Legal & General Group Plc raised its stake 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 worth $624,749,000 after buying an additional 67,474 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BA shares. Benchmark restated a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday. Finally, Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $195.00 to $169.00 in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $190.42.

Boeing Stock Performance

Shares of NYSE:BA opened at $154.59 on Friday. The stock has a 50-day simple moving average of $157.46 and a 200-day simple moving average of $171.00. The stock has a market capitalization of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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. During the same period last year, the business posted ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.22 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.