Quent Capital LLC Sells 313 Shares of The Boeing Company (NYSE:BA)

Quent Capital LLC lowered its holdings in The Boeing Company (NYSE:BA) by 16.2% in the second quarter, Holdings Channel reports. The firm owned 1,616 shares of the aircraft producer’s stock after selling 313 shares during the quarter. Quent Capital LLC’s holdings in Boeing were worth $294,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing in the 4th quarter valued at about $26,000. Evolution Advisers Inc. bought a new position in shares of Boeing in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing during the 4th quarter worth about $28,000. Vima LLC bought a new stake in shares of Boeing during the 4th quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. boosted its holdings in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock traded down $2.00 during trading on Tuesday, reaching $165.03. 5,812,304 shares of the company were exchanged, compared to its average volume of 8,208,652. The company has a 50-day moving average of $181.72 and a two-hundred day moving average of $186.85. The company has a market capitalization of $101.69 billion, a price-to-earnings ratio of -46.49 and a beta of 1.56. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted ($0.82) EPS. On average, analysts forecast that The Boeing Company will post -2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BA. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Susquehanna lifted their target price on shares of Boeing from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Wells Fargo & Company reduced their target price on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Citigroup dropped their price objective on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.18.

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.