Brown Brothers Harriman & Co. Sells 2,803 Shares of The Boeing Company (NYSE:BA)

Brown Brothers Harriman & Co. trimmed its stake in The Boeing Company (NYSE:BA) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,492 shares of the aircraft producer’s stock after selling 2,803 shares during the period. Brown Brothers Harriman & Co.’s holdings in Boeing were worth $3,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new stake in shares of Boeing in the third quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter worth $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

BA stock opened at $153.08 on Tuesday. The stock has a market capitalization of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57. The company has a 50 day moving average price of $151.65 and a 200 day moving average price of $168.08. 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 issued its quarterly 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.26) earnings per share. As a group, equities analysts expect that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BA. TD Cowen reduced their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Robert W. Baird reduced their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.