McAdam LLC Decreases Stock Position in The Boeing Company (NYSE:BA)

McAdam LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,877 shares of the aircraft producer’s stock after selling 156 shares during the period. McAdam LLC’s holdings in Boeing were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Boeing by 23.7% in the 4th 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. Boston Partners raised its position 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 acquiring an additional 1,617,151 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Boeing during the first quarter worth approximately $272,312,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Argus lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Susquehanna reaffirmed a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Bank of America upped their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 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, the company has a consensus rating of “Moderate Buy” and an average price target of $215.18.

Boeing Stock Performance

Shares of Boeing stock opened at $174.96 on Friday. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company has a market cap of $107.41 billion, a P/E ratio of -49.28 and a beta of 1.56. The firm has a fifty day moving average of $178.48 and a two-hundred day moving average of $183.32.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.82) EPS. As a group, equities analysts predict that The Boeing Company will post -2.38 earnings per share for the current 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.