Oppenheimer & Co. Inc. Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Oppenheimer & Co. Inc. trimmed its position in The Boeing Company (NYSE:BA) by 20.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 42,999 shares of the aircraft producer’s stock after selling 10,776 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boeing were worth $11,208,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Evolution Advisers Inc. bought a new stake in Boeing in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Boeing in the fourth quarter valued at $28,000. Naples Money Management LLC bought a new stake in Boeing in the fourth quarter valued at $44,000. M&R Capital Management Inc. boosted its holdings in Boeing by 35.0% in the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 50 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new stake in Boeing in the fourth quarter valued at $52,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 0.7 %

BA stock traded up $1.33 during midday trading on Wednesday, hitting $189.95. The company’s stock had a trading volume of 5,939,431 shares, compared to its average volume of 8,953,470. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The firm has a market capitalization of $116.61 billion, a price-to-earnings ratio of -53.13 and a beta of 1.55. The company has a 50 day moving average of $177.83 and a two-hundred day moving average of $204.36.

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

Analyst Ratings Changes

A number of analysts have recently commented on BA shares. StockNews.com cut shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a report on Monday. Sanford C. Bernstein dropped their target price on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday. The Goldman Sachs Group dropped their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $220.89.

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.