Robertson Stephens Wealth Management LLC Sells 2,277 Shares of The Boeing Company (NYSE:BA)

Robertson Stephens Wealth Management LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,047 shares of the aircraft producer’s stock after selling 2,277 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Boeing were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Boeing by 122.0% in the 3rd 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 period. International Assets Investment Management LLC boosted its stake in 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 purchasing an additional 1,251,165 shares during the period. Franklin Resources Inc. boosted its stake in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the period. State Street Corp boosted its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the period. Finally, Jennison Associates LLC boosted its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. TD Cowen cut their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. UBS Group upped their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Boeing Stock Up 1.6 %

Shares of BA opened at $184.81 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $213.77. The business has a 50-day simple moving average of $171.05 and a two-hundred day simple moving average of $164.12. The stock has a market cap of $114.25 billion, a PE ratio of -10.09 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the business earned ($0.47) earnings per share. On average, equities research analysts expect that The Boeing Company will post -2.12 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.