Pallas Capital Advisors LLC Trims Stake in The Boeing Company (NYSE:BA)

Pallas Capital Advisors LLC lessened its holdings in The Boeing Company (NYSE:BA) by 3.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,189 shares of the aircraft producer’s stock after selling 83 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Boeing were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BA. American Century Companies Inc. raised its stake in Boeing by 20.8% in the second quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after purchasing an additional 7,739 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Boeing by 10.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer’s stock valued at $101,263,000 after buying an additional 50,767 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Boeing by 435.8% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 27,295 shares of the aircraft producer’s stock worth $4,968,000 after acquiring an additional 22,201 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Boeing by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer’s stock worth $232,479,000 after acquiring an additional 98,973 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in Boeing by 11.0% in the second quarter. Citizens Financial Group Inc. RI now owns 31,252 shares of the aircraft producer’s stock valued at $5,688,000 after acquiring an additional 3,101 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 2.0 %

Shares of Boeing stock opened at $167.17 on Wednesday. The business has a 50 day moving average of $162.02 and a 200 day moving average of $164.97. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $217.59. The company has a market cap of $103.34 billion, a PE ratio of -12.96 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.26) EPS. On average, research analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Susquehanna cut their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Robert W. Baird decreased their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two equities 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 MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.