Westhampton Capital LLC Decreases Stake in The Boeing Company (NYSE:BA)

by · The Markets Daily

Westhampton Capital LLC lessened its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 24.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,299 shares of the aircraft producer’s stock after selling 2,027 shares during the period. Westhampton Capital LLC’s holdings in Boeing were worth $958,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Newport Trust Company LLC boosted its holdings in Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares during the period. Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

BA has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley reduced their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday, October 18th. Sanford C. Bernstein lowered their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.79.

Read Our Latest Stock Analysis on Boeing

Boeing Stock Up 0.0 %

Shares of NYSE:BA opened at $159.85 on Wednesday. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The stock has a market cap of $98.13 billion, a price-to-earnings ratio of -45.03 and a beta of 1.57. The firm’s 50 day moving average price is $160.84 and its 200 day moving average price is $172.11.

Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) earnings per share. On average, equities analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Boeing Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BA – Free Report).