Truist Financial Corp Decreases Holdings in The Boeing Company (NYSE:BA)

Truist Financial Corp cut its stake in The Boeing Company (NYSE:BA) by 7.4% during the 4th quarter, HoldingsChannel reports. The firm owned 290,930 shares of the aircraft producer’s stock after selling 23,314 shares during the quarter. Truist Financial Corp’s holdings in Boeing were worth $51,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in Boeing by 691.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the aircraft producer’s stock worth $262,000 after buying an additional 1,507 shares during the period. Chicago Capital LLC increased its position in shares of Boeing by 3.5% during the third quarter. Chicago Capital LLC now owns 4,858 shares of the aircraft producer’s stock worth $739,000 after acquiring an additional 165 shares during the last quarter. Vest Financial LLC lifted its stake in shares of Boeing by 202.1% in the third quarter. Vest Financial LLC now owns 4,329 shares of the aircraft producer’s stock worth $658,000 after acquiring an additional 2,896 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Boeing by 90.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 71,090 shares of the aircraft producer’s stock valued at $10,809,000 after purchasing an additional 33,695 shares during the last quarter. Finally, Wealth Effects LLC grew its stake in Boeing by 1.6% during the 3rd quarter. Wealth Effects LLC now owns 11,172 shares of the aircraft producer’s stock valued at $1,699,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BA. Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $210.00 in a report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup boosted their price target on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $195.16.

Boeing Trading Down 0.5 %

NYSE BA opened at $184.52 on Tuesday. The company has a 50-day moving average price of $174.96 and a two-hundred day moving average price of $163.90. The stock has a market cap of $138.40 billion, a price-to-earnings ratio of -10.07 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) earnings per share. As a group, equities research analysts expect that The Boeing Company will post -2.3 earnings per share for the current fiscal year.

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.