The Boeing Company (NYSE:BA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in shares of The Boeing Company (NYSE:BA) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,186 shares of the aircraft producer’s stock after selling 2,011 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boeing were worth $6,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Rockefeller Capital Management L.P. increased its holdings in Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after buying an additional 38,300 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. ING Groep NV purchased a new stake in Boeing in the 3rd quarter valued at about $11,679,000. Lazari Capital Management Inc. increased its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Boeing in the 3rd quarter worth $636,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $167.79 on Friday. The stock has a 50-day simple moving average of $152.15 and a 200 day simple moving average of $166.14. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The stock has a market capitalization of $103.73 billion, a PE ratio of -12.99 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned ($3.26) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Morgan Stanley reduced their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boeing has a consensus rating of “Hold” and an average target price of $190.11.

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.