South Dakota Investment Council Cuts Stock Position in The Boeing Company (NYSE:BA)

South Dakota Investment Council cut its holdings in shares of The Boeing Company (NYSE:BA) by 26.1% during the fourth quarter, Holdings Channel reports. The firm owned 5,663 shares of the aircraft producer’s stock after selling 2,000 shares during the quarter. South Dakota Investment Council’s holdings in Boeing were worth $1,476,000 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. CNB Bank increased its stake in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares during the period. Park Place Capital Corp grew its position in shares of Boeing by 185.1% during the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after buying an additional 137 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new position in shares of Boeing during the third quarter worth about $43,000. Naples Money Management LLC acquired a new position in shares of Boeing during the fourth quarter worth about $44,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Boeing by 66.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after buying an additional 94 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 2.9 %

Shares of NYSE BA opened at $164.34 on Thursday. The Boeing Company has a twelve month low of $162.74 and a twelve month high of $267.54. The stock has a 50 day moving average of $188.03 and a two-hundred day moving average of $206.89.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter last year, the company earned ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BA. Stifel Nicolaus lowered their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a report on Wednesday, April 17th. Royal Bank of Canada lowered their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Finally, Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.71.

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.