Chevy Chase Trust Holdings LLC Reduces Position in The Boeing Company (NYSE:BA)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 316,318 shares of the aircraft producer’s stock after selling 2,562 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Boeing worth $57,573,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter worth $34,000. Horizon Wealth Management LLC grew its holdings in Boeing by 112.9% during the second quarter. Horizon Wealth Management LLC now owns 2,352 shares of the aircraft producer’s stock worth $428,000 after acquiring an additional 1,247 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. Madrona Financial Services LLC lifted its holdings in Boeing by 2.2% in the second quarter. Madrona Financial Services LLC now owns 8,707 shares of the aircraft producer’s stock valued at $1,585,000 after acquiring an additional 184 shares during the period. Finally, First Pacific Financial lifted its holdings in Boeing by 68.1% in the second quarter. First Pacific Financial now owns 1,663 shares of the aircraft producer’s stock valued at $303,000 after acquiring an additional 674 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. Barclays cut their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company dropped their target price on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Bank of America upped their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Finally, UBS Group dropped their target price 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.18.

Boeing Trading Down 4.2 %

Shares of Boeing stock traded down $7.55 during trading hours on Tuesday, reaching $172.09. The stock had a trading volume of 9,542,094 shares, compared to its average volume of 8,045,871. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm has a market capitalization of $105.64 billion, a price-to-earnings ratio of -48.23 and a beta of 1.56. The firm has a 50 day simple moving average of $179.13 and a two-hundred day simple moving average of $184.13.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the firm earned ($0.82) EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that The Boeing Company will post -2.38 EPS for the current year.

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.