Victory Capital Management Inc. Sells 4,347 Shares of The Boeing Company (NYSE:BA)

Victory Capital Management Inc. reduced its holdings in shares of The Boeing Company (NYSE:BA) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,137 shares of the aircraft producer’s stock after selling 4,347 shares during the period. Victory Capital Management Inc.’s holdings in Boeing were worth $27,388,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Lazari Capital Management Inc. grew its position in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after acquiring an additional 8,309 shares during the last quarter. Patten & Patten Inc. TN lifted its holdings in Boeing by 19.8% in the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares during the period. Czech National Bank increased its stake in shares of Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Boeing by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,589,850 shares of the aircraft producer’s stock valued at $241,721,000 after acquiring an additional 35,068 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in Boeing in the third quarter worth $11,237,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 1.5 %

Shares of BA opened at $140.19 on Monday. The firm has a market cap of $86.67 billion, a PE ratio of -10.87 and a beta of 1.57. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The firm has a fifty day simple moving average of $153.20 and a two-hundred day simple moving average of $169.44.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted ($3.26) earnings per share. As a group, research analysts forecast that The Boeing Company will post -16.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $190.37.

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.