The Boeing Company (NYSE:BA) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its position in shares of The Boeing Company (NYSE:BA) by 23.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,821 shares of the aircraft producer’s stock after selling 844 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Boeing were worth $429,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Newport Trust Company LLC increased its stake in 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 buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA increased its stake in 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 buying an additional 106,513 shares during the period. Legal & General Group Plc raised its position 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 in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BA shares. Citigroup dropped their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. UBS Group cut their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a sell rating, nine have given 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 has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Down 1.3 %

BA stock opened at $138.13 on Friday. The company has a 50 day moving average of $154.03 and a two-hundred day moving average of $169.89. The Boeing Company has a 12-month low of $137.22 and a 12-month high of $267.54. The company has a market cap of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (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 analysts’ expectations of $17.81 billion. During the same period last year, the firm posted ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -16.09 EPS for the current year.

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.