The Boeing Company (NYSE:BA) Position Reduced by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its stake in The Boeing Company (NYSE:BA) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 21,937 shares of the aircraft producer’s stock after selling 992 shares during the period. Cullen Frost Bankers Inc.’s holdings in Boeing were worth $5,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC acquired a new position in shares of Boeing in the 4th quarter valued at about $960,397,000. Lazard Asset Management LLC boosted its stake in Boeing by 8,961.2% in the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after acquiring an additional 1,148,643 shares during the period. Barclays PLC grew its holdings in shares of Boeing by 54.5% during the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after purchasing an additional 829,321 shares during the last quarter. Invesco Ltd. raised its position in shares of Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after purchasing an additional 759,267 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after purchasing an additional 549,318 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $180.35 on Thursday. The firm’s 50 day moving average is $182.80 and its 200-day moving average is $206.14. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The stock has a market capitalization of $110.71 billion, a P/E ratio of -50.80 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BA. UBS Group lowered their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. 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. Bank of America reduced their target price on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. StockNews.com lowered shares of Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus reduced their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.