1ST Source Bank Trims Stock Position in The Boeing Company (NYSE:BA)

1ST Source Bank lessened its position in shares of The Boeing Company (NYSE:BA) by 23.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,533 shares of the aircraft producer’s stock after selling 1,390 shares during the period. 1ST Source Bank’s holdings in Boeing were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in Boeing by 8.8% during 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 purchasing an additional 38,300 shares during the last quarter. Jennison Associates LLC raised its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. ING Groep NV bought a new stake in Boeing during the third quarter worth about $11,679,000. Lazari Capital Management Inc. increased its position in shares of Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $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 during the 3rd quarter valued at about $636,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

NYSE:BA opened at $169.63 on Friday. The Boeing Company has a one year low of $137.03 and a one year high of $267.54. The company’s 50-day simple moving average is $152.79 and its 200 day simple moving average is $166.12. The firm has a market capitalization of $104.87 billion, a P/E ratio of -13.15 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm earned ($3.26) EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing 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.