Cacti Asset Management LLC Lowers Stake in The Boeing Company (NYSE:BA)

Cacti Asset Management LLC lessened its position in The Boeing Company (NYSE:BA) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,444 shares of the aircraft producer’s stock after selling 4,975 shares during the quarter. Boeing comprises 2.9% of Cacti Asset Management LLC’s holdings, making the stock its 13th largest position. Cacti Asset Management LLC’s holdings in Boeing were worth $38,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. IMS Capital Management lifted its stake in 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 purchasing an additional 62 shares during the last quarter. Peoples Financial Services CORP. lifted its holdings in shares of Boeing by 0.8% in the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the period. Altus Wealth Group LLC grew its stake in shares of Boeing by 5.7% during the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after purchasing an additional 71 shares during the period. Hancock Whitney Corp grew its holdings in Boeing by 1.0% in the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after purchasing an additional 72 shares during the last quarter. Finally, Kowal Investment Group LLC grew its position in shares of Boeing by 4.3% in the third quarter. Kowal Investment Group LLC now owns 1,758 shares of the aircraft producer’s stock valued at $267,000 after purchasing an additional 72 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of BA stock traded down $6.66 during trading on Thursday, reaching $170.34. The company had a trading volume of 6,404,315 shares, compared to its average volume of 9,357,763. The company has a market capitalization of $105.30 billion, a PE ratio of -13.20 and a beta of 1.56. The firm’s 50 day simple moving average is $158.80 and its two-hundred day simple moving average is $165.49. The Boeing Company has a one year low of $137.03 and a one year high of $250.19.

Boeing (NYSE:BA) last posted 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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on BA shares. The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Benchmark restated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Citigroup reduced their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued 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 an average rating of “Hold” and a consensus target price of $191.16.

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.