Alpha Cubed Investments LLC Trims Position in The Boeing Company (NYSE:BA)

Alpha Cubed Investments LLC lowered its position in shares of The Boeing Company (NYSE:BA) by 17.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,550 shares of the aircraft producer’s stock after selling 761 shares during the period. Alpha Cubed Investments LLC’s holdings in Boeing were worth $628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Van ECK Associates Corp increased its holdings 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 purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC increased 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 worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. State Street Corp grew its holdings in shares of Boeing by 2.3% during the third 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 in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BA shares. Susquehanna cut their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Price Performance

BA stock opened at $171.14 on Tuesday. The stock’s fifty day moving average price is $163.59 and its 200-day moving average price is $164.52. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The company has a market cap of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts expect that The Boeing Company will post -16.43 earnings per share for the current year.

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.