The Boeing Company (NYSE:BA) Stake Trimmed by Brighton Jones LLC

Brighton Jones LLC lowered its stake in The Boeing Company (NYSE:BA) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,657 shares of the aircraft producer’s stock after selling 260 shares during the quarter. Brighton Jones LLC’s holdings in The Boeing were worth $3,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atlas Capital Advisors LLC acquired a new stake in The Boeing during the 1st quarter worth about $25,000. Baldrige Asset Management LLC acquired a new stake in The Boeing during the 2nd quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in The Boeing during the 1st quarter worth about $28,000. Cypress Capital LLC boosted its position in The Boeing by 143.9% during the 1st quarter. Cypress Capital LLC now owns 161 shares of the aircraft producer’s stock worth $41,000 after acquiring an additional 95 shares during the period. Finally, Smith Asset Management Group LP acquired a new stake in The Boeing during the 2nd quarter worth about $43,000. 53.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on BA. JPMorgan Chase & Co. set a $270.00 price objective on The Boeing in a research report on Wednesday, August 11th. Citigroup lifted their price target on The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, May 21st. The Goldman Sachs Group reduced their price target on The Boeing from $304.00 to $267.52 and set a “buy” rating for the company in a report on Thursday, July 29th. Wolfe Research upgraded The Boeing from an “underperform” rating to a “peer perform” rating and set a $224.00 price target for the company in a report on Tuesday, July 13th. Finally, Wells Fargo & Company lifted their price target on The Boeing from $244.00 to $254.00 and gave the company an “equal weight” rating in a report on Friday, July 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $256.72.

NYSE BA traded up $0.77 during trading on Wednesday, hitting $212.34. The company’s stock had a trading volume of 168,234 shares, compared to its average volume of 13,319,883. The firm has a 50 day moving average price of $223.45 and a 200 day moving average price of $235.74. The firm has a market cap of $124.46 billion, a P/E ratio of -13.77 and a beta of 1.61. The Boeing Company has a 52 week low of $141.58 and a 52 week high of $278.57.

The Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 27th. The aircraft producer reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $1.23. The business had revenue of $17 billion during the quarter, compared to the consensus estimate of $17.03 billion. As a group, analysts predict that The Boeing Company will post -0.21 earnings per share for the current year.

About The Boeing

The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital. The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

Further Reading: 52-week highs

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Institutional Ownership by Quarter for The Boeing (NYSE:BA)

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