Harbour Investments Inc. Cuts Stake in The Boeing Company (NYSE:BA)

Harbour Investments Inc. reduced its stake in shares of The Boeing Company (NYSE:BA) by 13.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,320 shares of the aircraft producer’s stock after selling 992 shares during the period. Harbour Investments Inc.’s holdings in Boeing were worth $961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% in 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. 1620 Investment Advisors Inc. bought a new stake in Boeing in the second quarter worth $39,000. Finally, Strategic Financial Concepts LLC bought a new stake in Boeing in the second quarter worth $41,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $138.13 on Friday. The Boeing Company has a fifty-two week low of $137.22 and a fifty-two week high of $267.54. The firm has a market capitalization of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The stock’s 50-day simple moving average is $154.03 and its 200-day simple moving average is $169.89.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same quarter last year, the firm earned ($3.26) EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -16.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BA. Wells Fargo & Company lowered their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. UBS Group lowered their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Company 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.