The Boeing Company (NYSE:BA) Shares Sold by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 25.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 388 shares of the aircraft producer’s stock after selling 135 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Boeing were worth $69,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after buying an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. grew its holdings in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the period. Wulff Hansen & CO. raised its position in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Finally, State Street Corp lifted its holdings in Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $172.08 on Friday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $228.28. The stock has a market cap of $106.38 billion, a P/E ratio of -13.34 and a beta of 1.52. The stock’s 50 day simple moving average is $161.39 and its 200-day simple moving average is $165.32.

Boeing (NYSE:BA) last issued its earnings results 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 the consensus estimate of $17.81 billion. During the same period in the prior year, the firm posted ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -16.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BA. Susquehanna lowered their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $210.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Finally, Jefferies Financial Group reduced 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.21.

About Boeing

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.