The Boeing Company (NYSE:BA) Stake Lessened by Garrison Point Advisors LLC

Garrison Point Advisors LLC decreased its position in shares of The Boeing Company (NYSE:BA) by 25.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,335 shares of the aircraft producer’s stock after selling 785 shares during the period. Garrison Point Advisors LLC’s holdings in Boeing were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BA. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. grew 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 buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boeing in the second quarter valued at $39,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $155.19 on Friday. The business has a 50 day simple moving average of $160.61 and a 200 day simple moving average of $172.01. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The stock has a market cap of $95.27 billion, a price-to-earnings ratio of -43.72 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned ($3.26) earnings per share. On average, analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BA. The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price target on Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research note on Thursday. Susquehanna reduced their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein reduced their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $191.79.

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.