Jacobs & Co. CA Cuts Stake in The Boeing Company (NYSE:BA)

Jacobs & Co. CA cut its stake in shares of The Boeing Company (NYSE:BA) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,741 shares of the aircraft producer’s stock after selling 2,051 shares during the quarter. Jacobs & Co. CA’s holdings in Boeing were worth $10,220,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares during the period. Principal Financial Group Inc. raised its position in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares during the last quarter. Jennison Associates LLC raised its position in shares of Boeing by 9.9% during the 3rd 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. World Investment Advisors LLC raised its position in shares of Boeing by 243.4% during the 3rd quarter. World Investment Advisors LLC now owns 5,381 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 3,814 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Boeing during the 3rd quarter worth about $11,679,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Jefferies Financial Group reduced their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group cut their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Up 0.5 %

BA traded up $0.91 during trading on Friday, reaching $172.67. 5,324,449 shares of the company’s stock were exchanged, compared to its average volume of 8,578,321. The company has a market capitalization of $106.74 billion, a P/E ratio of -13.39 and a beta of 1.52. The business has a 50 day moving average price of $161.04 and a 200 day moving average price of $165.37. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $228.28.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, research analysts forecast that The Boeing Company will post -16.18 EPS 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.