Garner Asset Management Corp Trims Stock Position in The Boeing Company (NYSE:BA)

Garner Asset Management Corp trimmed its position in The Boeing Company (NYSE:BA) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,428 shares of the aircraft producer’s stock after selling 436 shares during the quarter. Garner Asset Management Corp’s holdings in Boeing were worth $894,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Trust Co. of Vermont raised its holdings in shares of Boeing by 1.0% in the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock worth $841,000 after purchasing an additional 45 shares during the period. Benchmark Financial Wealth Advisors LLC grew its stake in Boeing by 2.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after purchasing an additional 47 shares in the last quarter. WealthPlan Investment Management LLC boosted its stake in Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after purchasing an additional 49 shares during the period. RB Capital Management LLC increased its stake in shares of Boeing by 2.7% in the third quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after purchasing an additional 50 shares during the period. Finally, M&R Capital Management Inc. raised its holdings in shares of Boeing by 35.0% during the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 2.4 %

NYSE BA traded down $4.65 during trading hours on Tuesday, hitting $185.47. The company’s stock had a trading volume of 5,003,526 shares, compared to its average volume of 8,800,767. The stock has a fifty day moving average of $177.72 and a 200 day moving average of $203.56. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The firm has a market capitalization of $113.86 billion, a P/E ratio of -51.73 and a beta of 1.55.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. On average, analysts predict that The Boeing Company will post -1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Baird R W raised Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Sanford C. Bernstein cut their price target on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Robert W. Baird cut their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Tuesday, March 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $240.00 target price on shares of Boeing in a report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.33.

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.