Pointe Capital Management LLC Has $322,000 Stock Position in The Boeing Company (NYSE:BA)

Pointe Capital Management LLC lessened its holdings in The Boeing Company (NYSE:BA) by 25.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,234 shares of the aircraft producer’s stock after selling 429 shares during the period. Pointe Capital Management LLC’s holdings in Boeing were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC bought a new stake in Boeing in the 4th quarter worth about $960,397,000. Lazard Asset Management LLC grew its position in Boeing by 8,961.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after purchasing an additional 1,148,643 shares in the last quarter. Barclays PLC grew its position in shares of Boeing by 54.5% during the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after acquiring an additional 829,321 shares during the period. Invesco Ltd. grew its position in shares of Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after acquiring an additional 759,267 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Boeing by 726.7% during the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock valued at $162,888,000 after acquiring an additional 549,318 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

NYSE BA traded up $0.94 during trading hours on Friday, reaching $179.79. 5,416,263 shares of the company’s stock traded hands, compared to its average volume of 8,228,397. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The firm has a market cap of $110.37 billion, a PE ratio of -50.64 and a beta of 1.54. The firm has a 50-day simple moving average of $183.74 and a 200 day simple moving average of $205.91.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period last year, the firm posted ($1.75) earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that The Boeing Company will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Tuesday, March 26th. Susquehanna cut their price objective on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group cut their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Barclays cut their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and an average price target of $222.41.

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.