Pine Haven Investment Counsel Inc Sells 100 Shares of The Boeing Company (NYSE:BA)

Pine Haven Investment Counsel Inc reduced its position in shares of The Boeing Company (NYSE:BA) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,711 shares of the aircraft producer’s stock after selling 100 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Boeing were worth $657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BA. Van ECK Associates Corp raised its position in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $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 buying an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. raised its holdings in Boeing by 1,296.3% during the third 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 period. State Street Corp lifted its position in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after acquiring an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake 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 acquiring an additional 602,143 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BA. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Performance

Shares of NYSE BA opened at $171.14 on Monday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The company has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52. The business’s 50 day moving average price is $163.15 and its 200-day moving average price is $164.75.

Boeing (NYSE:BA) last released 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 analyst estimates of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -16.43 earnings per share 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.