FUKOKU MUTUAL LIFE INSURANCE Co Reduces Holdings in The Boeing Company (NYSE:BA)

FUKOKU MUTUAL LIFE INSURANCE Co lowered its holdings in shares of The Boeing Company (NYSE:BA) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,365 shares of the aircraft producer’s stock after selling 468 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Boeing were worth $360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing during the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the second quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter valued at about $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Boeing in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.3 %

Shares of NYSE:BA opened at $138.13 on Friday. The Boeing Company has a 1 year low of $137.22 and a 1 year high of $267.54. The firm’s 50-day moving average is $154.03 and its two-hundred day moving average is $169.89.

Boeing (NYSE:BA) last issued its quarterly 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. During the same period in the previous year, the company earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $190.37.

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.