IMS Capital Management Sells 2,983 Shares of The Boeing Company (NYSE:BA)

IMS Capital Management trimmed its stake in shares of The Boeing Company (NYSE:BA) by 15.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,970 shares of the aircraft producer’s stock after selling 2,983 shares during the quarter. Boeing accounts for 1.4% of IMS Capital Management’s portfolio, making the stock its 13th largest holding. IMS Capital Management’s holdings in Boeing were worth $3,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC acquired a new position in shares of Boeing during the fourth quarter worth about $960,397,000. Wellington Management Group LLP raised its holdings in shares of Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Boeing by 861.6% during the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Morgan Stanley decreased their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Susquehanna boosted their target price on shares of Boeing from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Thursday. Finally, Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.65.

Boeing Price Performance

NYSE BA traded down $8.36 during trading hours on Friday, hitting $169.95. The company’s stock had a trading volume of 11,742,812 shares, compared to its average volume of 6,374,948. The company has a market cap of $104.72 billion, a P/E ratio of -47.87 and a beta of 1.56. The company’s 50 day simple moving average is $181.87 and its two-hundred day simple moving average is $187.28. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm posted ($0.82) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, research analysts predict that The Boeing Company will post -2.38 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.