Jmac Enterprises LLC Trims Stock Holdings in The Boeing Company (NYSE:BA)

Jmac Enterprises LLC lowered its holdings in shares of The Boeing Company (NYSE:BA) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,583 shares of the aircraft producer’s stock after selling 403 shares during the period. Jmac Enterprises LLC’s holdings in Boeing were worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Boeing in the 2nd quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Boeing in the first quarter worth $53,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $148.95 on Thursday. The stock’s 50-day moving average is $156.17 and its 200-day moving average is $170.60. The Boeing Company has a one year low of $144.13 and a one year high of $267.54. The firm has a market cap of $92.08 billion, a price-to-earnings ratio of -11.41 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($3.26) earnings per share. On average, equities analysts expect that The Boeing Company will post -16.13 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the topic of several research analyst reports. TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley cut their price target on 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, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.37.

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.