The Boeing Company (NYSE:BA) Stake Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in The Boeing Company (NYSE:BA) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,166 shares of the aircraft producer’s stock after selling 31,756 shares during the quarter. Mackenzie Financial Corp’s holdings in Boeing were worth $45,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. CNB Bank grew its stake in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Boeing during the 4th quarter valued at about $33,000. M&R Capital Management Inc. lifted its holdings in shares of Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Boeing during the 4th quarter valued at about $52,000. Finally, Fortis Capital Advisors LLC lifted its holdings in shares of Boeing by 100.0% during the 1st quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.6 %

Boeing stock opened at $170.55 on Wednesday. The business’s 50-day simple moving average is $192.69 and its 200 day simple moving average is $207.80. The stock has a market cap of $104.06 billion, a price-to-earnings ratio of -46.34, a P/E/G ratio of 115.71 and a beta of 1.52. The Boeing Company has a 12-month low of $167.53 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter in the prior year, the business earned ($1.75) EPS. Boeing’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BA. Stifel Nicolaus reduced their target price on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Tuesday, March 26th. Morgan Stanley reduced their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Melius reiterated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Sanford C. Bernstein cut their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $233.88.

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.