First Dallas Securities Inc. Trims Stake in The Boeing Company (NYSE:BA)

First Dallas Securities Inc. cut its position in The Boeing Company (NYSE:BA) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,741 shares of the aircraft producer’s stock after selling 485 shares during the quarter. Boeing makes up approximately 1.1% of First Dallas Securities Inc.’s investment portfolio, making the stock its 28th largest holding. First Dallas Securities Inc.’s holdings in Boeing were worth $2,545,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BA. Madison Park Capital Advisors LLC lifted its position in shares of Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its stake in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares in the last quarter. IMS Capital Management increased its position in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after acquiring an additional 62 shares during the period. ADE LLC increased its position in shares of Boeing by 4.4% during the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after acquiring an additional 65 shares during the period. Finally, Peoples Financial Services CORP. raised its stake in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after acquiring an additional 67 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 2.1 %

Shares of NYSE:BA opened at $157.19 on Tuesday. The company has a market cap of $97.17 billion, a P/E ratio of -12.19 and a beta of 1.56. The company has a 50-day moving average price of $151.69 and a 200 day moving average price of $166.22. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

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 the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. Analysts expect that The Boeing Company will post -16.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. TD Cowen reduced 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. Wells Fargo & Company lowered their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.11.

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.