The Boeing Company (NYSE:BA) Stock Position Cut by Mutual of America Capital Management LLC

by · The Markets Daily

Mutual of America Capital Management LLC lessened its stake in The Boeing Company (NYSE:BA – Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,685 shares of the aircraft producer’s stock after selling 2,429 shares during the period. Mutual of America Capital Management LLC’s holdings in Boeing were worth $13,229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BA. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing in the 4th quarter valued at about $26,000. Vima LLC acquired a new stake in Boeing in the 4th quarter valued at about $34,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new stake in Boeing in the 4th quarter valued at about $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE:BA opened at $156.38 on Wednesday. The stock’s 50 day moving average price is $172.95 and its 200 day moving average price is $178.39. The Boeing Company has a 52 week low of $154.02 and a 52 week high of $267.54. The company has a market capitalization of $96.00 billion, a P/E ratio of -44.05 and a beta of 1.57.

Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the company earned ($0.82) EPS. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BA. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. 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. Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Sanford C. Bernstein reduced their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Robert W. Baird reduced their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.29.

Check Out Our Latest Stock Analysis on Boeing

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.

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