FourThought Financial Partners LLC Cuts Position in The Boeing Company (NYSE:BA)

FourThought Financial Partners LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,176 shares of the aircraft producer’s stock after selling 218 shares during the quarter. FourThought Financial Partners LLC’s holdings in Boeing were worth $828,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CNB Bank increased its holdings in shares of Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Boeing during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Boeing in the fourth quarter worth approximately $28,000. Naples Money Management LLC purchased a new stake in Boeing in the fourth quarter worth approximately $44,000. Finally, Blue Bell Private Wealth Management LLC grew its position in Boeing by 66.2% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after purchasing an additional 94 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock traded up $0.94 during mid-day trading on Friday, hitting $179.79. The company had a trading volume of 5,416,263 shares, compared to its average volume of 8,228,397. The company has a market capitalization of $110.37 billion, a P/E ratio of -50.64 and a beta of 1.54. The stock’s 50 day moving average price is $183.74 and its 200-day moving average price is $206.20. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned ($1.75) EPS. On average, equities research analysts expect that The Boeing Company will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the topic of several research analyst reports. Morgan Stanley lowered their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Melius reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft cut their price target on Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Sanford C. Bernstein dropped their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Boeing currently has a consensus rating of “Hold” and an average target price of $222.41.

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.