Advisors Asset Management Inc. Sells 818 Shares of The Boeing Company (NYSE:BA)

Advisors Asset Management Inc. trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,737 shares of the aircraft producer’s stock after selling 818 shares during the period. Advisors Asset Management Inc.’s holdings in Boeing were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Boeing by 122.0% during 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 buying an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Wulff Hansen & CO. raised its position in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Finally, Newport Trust Company LLC boosted its position in Boeing by 1.2% during 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 in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of several analyst reports. Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Finally, Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Hold” and an average price target of $190.37.

Boeing Stock Performance

Shares of BA opened at $149.29 on Friday. The company has a market capitalization of $92.29 billion, a P/E ratio of -11.57 and a beta of 1.57. The business’s 50-day moving average is $151.70 and its two-hundred day moving average is $168.36. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week 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 the consensus estimate of ($10.34) by ($0.10). The company 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 company posted ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts forecast that The Boeing Company will post -16.2 EPS for the current year.

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.