Rovin Capital UT ADV Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Rovin Capital UT ADV cut its holdings in The Boeing Company (NYSE:BA) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,247 shares of the aircraft producer’s stock after selling 552 shares during the quarter. Rovin Capital UT ADV’s holdings in Boeing were worth $575,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC raised its stake in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares in the last quarter. State Street Corp boosted its stake in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Down 0.5 %

Boeing stock opened at $166.25 on Thursday. The firm has a market capitalization of $102.78 billion, a P/E ratio of -12.89 and a beta of 1.52. The stock’s fifty day simple moving average is $162.02 and its 200-day simple moving average is $164.97. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) 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. During the same quarter in the prior year, the company earned ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BA. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

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.