Northcape Wealth Management LLC Has $910,000 Stock Holdings in The Boeing Company (NYSE:BA)

Northcape Wealth Management LLC trimmed its stake in The Boeing Company (NYSE:BA) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,491 shares of the aircraft producer’s stock after selling 308 shares during the period. Northcape Wealth Management LLC’s holdings in Boeing were worth $910,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Evolution Advisers Inc. acquired a new position in shares of Boeing during the fourth quarter valued at about $28,000. CNB Bank grew its holdings in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. Naples Money Management LLC acquired a new position in shares of Boeing during the fourth quarter valued at about $44,000. M&R Capital Management Inc. grew its holdings in shares of Boeing by 35.0% during the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Boeing during the fourth quarter valued at about $52,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BA has been the topic of a number of recent analyst reports. Susquehanna dropped their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research report on Thursday, March 21st. UBS Group lowered their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. The Goldman Sachs Group lowered their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $222.41.

Boeing Stock Down 3.3 %

NYSE BA traded down $5.65 during trading on Tuesday, hitting $167.84. The company had a trading volume of 8,171,877 shares, compared to its average volume of 9,716,028. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company’s fifty day moving average is $185.92 and its 200-day moving average is $206.50.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.75) earnings per share. Equities analysts expect that The Boeing Company will post -0.3 earnings per share for the current year.

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.