Herbst Group LLC Decreases Holdings in The Boeing Company (NYSE:BA)

Herbst Group LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 69.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,800 shares of the aircraft producer’s stock after selling 10,951 shares during the period. Herbst Group LLC’s holdings in Boeing were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake in Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after buying an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. boosted its stake in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after buying an additional 1,055,472 shares during the last quarter. State Street Corp grew its holdings in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Robert W. Baird lowered their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, 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 report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

Shares of Boeing stock opened at $171.14 on Friday. The business has a 50-day simple moving average of $163.15 and a 200-day simple moving average of $164.89. The company has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $217.59.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.26) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

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.