Los Angeles Capital Management LLC Reduces Stake in The Boeing Company (NYSE:BA)

Los Angeles Capital Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 69.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 70,357 shares of the aircraft producer’s stock after selling 161,176 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Boeing were worth $10,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its holdings in shares of Boeing by 0.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 215,898 shares of the aircraft producer’s stock worth $32,825,000 after purchasing an additional 1,851 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of Boeing by 12.4% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,761 shares of the aircraft producer’s stock valued at $724,000 after buying an additional 524 shares during the last quarter. Maiden Cove Capital LLC acquired a new position in shares of Boeing in the 3rd quarter valued at about $178,000. Tyler Stone Wealth Management boosted its stake in shares of Boeing by 46.8% in the third quarter. Tyler Stone Wealth Management now owns 1,458 shares of the aircraft producer’s stock worth $222,000 after buying an additional 465 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new stake in Boeing during the third quarter worth about $242,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BA. Deutsche Bank Aktiengesellschaft decreased their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup reduced their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Down 1.8 %

BA stock opened at $148.96 on Tuesday. The firm has a 50-day moving average of $155.31 and a two-hundred day moving average of $170.39. The company has a market cap of $92.09 billion, a price-to-earnings ratio of -11.55 and a beta of 1.57. The Boeing Company has a 12 month low of $144.13 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the company earned ($3.26) EPS. Boeing’s revenue was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that The Boeing Company will post -16.09 earnings per share for the current year.

About Boeing

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.