Inverness Counsel LLC NY Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Inverness Counsel LLC NY reduced its stake in shares of The Boeing Company (NYSE:BA) by 36.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,498 shares of the aircraft producer’s stock after selling 23,725 shares during the quarter. Inverness Counsel LLC NY’s holdings in The Boeing were worth $9,941,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of The Boeing by 309.5% in the second quarter. Toronto Dominion Bank now owns 1,439,951 shares of the aircraft producer’s stock worth $133,557,000 after purchasing an additional 1,088,283 shares during the last quarter. BlackRock Inc. grew its stake in shares of The Boeing by 1.9% in the first quarter. BlackRock Inc. now owns 31,851,996 shares of the aircraft producer’s stock worth $8,113,339,000 after purchasing an additional 607,992 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of The Boeing by 4.8% in the first quarter. Geode Capital Management LLC now owns 7,988,325 shares of the aircraft producer’s stock worth $2,028,467,000 after purchasing an additional 363,662 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in The Boeing by 21.6% in the first quarter. UBS Asset Management Americas Inc. now owns 1,901,620 shares of the aircraft producer’s stock worth $484,381,000 after buying an additional 338,090 shares during the period. Finally, U S Global Investors Inc. purchased a new stake in The Boeing in the second quarter worth about $75,285,000. 53.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Boeing stock traded down $0.44 during trading on Wednesday, hitting $211.13. 135,130 shares of the company’s stock were exchanged, compared to its average volume of 13,319,883. The business has a 50-day simple moving average of $223.45 and a 200-day simple moving average of $235.74. The Boeing Company has a 52-week low of $141.58 and a 52-week high of $278.57. The stock has a market capitalization of $123.75 billion, a price-to-earnings ratio of -13.77 and a beta of 1.61.

The Boeing (NYSE:BA) last issued its earnings results on Tuesday, July 27th. The aircraft producer reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $1.23. The business had revenue of $17 billion for the quarter, compared to analysts’ expectations of $17.03 billion. Sell-side analysts forecast that The Boeing Company will post -0.21 EPS for the current year.

BA has been the subject of several research analyst reports. Berenberg Bank raised their price objective on shares of The Boeing from $215.00 to $245.00 and gave the stock a “hold” rating in a report on Tuesday, June 15th. Citigroup lifted their target price on shares of The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, May 21st. Morgan Stanley reiterated a “buy” rating and set a $274.00 target price on shares of The Boeing in a report on Friday, July 23rd. lifted their target price on shares of The Boeing from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, May 21st. Finally, The Goldman Sachs Group lowered their target price on shares of The Boeing from $304.00 to $267.52 and set a “buy” rating for the company in a report on Thursday, July 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $256.72.

The Boeing Company Profile

The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space and security systems. It operates through the following segments: Commercial Airplanes; Defense, Space and Security; Global Services; and Boeing Capital. The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

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Institutional Ownership by Quarter for The Boeing (NYSE:BA)

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