Obermeyer Wood Investment Counsel Lllp Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Obermeyer Wood Investment Counsel Lllp reduced its holdings in shares of The Boeing Company (NYSE:BA) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,459 shares of the aircraft producer’s stock after selling 75 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Boeing were worth $902,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Boeing by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after purchasing an additional 356,496 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Boeing by 109,667.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock valued at $3,058,456,000 after acquiring an additional 16,041,103 shares during the last quarter. Morgan Stanley lifted its stake in shares of Boeing by 1.1% in the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after acquiring an additional 91,801 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Boeing by 7.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,200,798 shares of the aircraft producer’s stock valued at $1,309,361,000 after acquiring an additional 452,721 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Boeing by 3.2% in the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock valued at $949,042,000 after acquiring an additional 153,168 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Boeing stock traded up $0.03 during mid-day trading on Thursday, reaching $170.24. 5,120,141 shares of the stock traded hands, compared to its average volume of 9,769,929. The stock has a market capitalization of $103.87 billion, a PE ratio of -46.32, a price-to-earnings-growth ratio of 116.39 and a beta of 1.52. The Boeing Company has a 12-month low of $167.53 and a 12-month high of $267.54. The business’s 50-day moving average is $191.86 and its 200-day moving average is $207.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the company posted ($1.75) earnings per share. Boeing’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that The Boeing Company will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company lowered their price target on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. Sanford C. Bernstein lowered their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada lowered their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Susquehanna lowered their price target on Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.35.

About Boeing

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.