Fortis Capital Management LLC Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Fortis Capital Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 6,602 shares of the aircraft producer’s stock after selling 595 shares during the quarter. Fortis Capital Management LLC’s holdings in Boeing were worth $1,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. TD Asset Management Inc grew its stake in Boeing by 7.7% during the 1st quarter. TD Asset Management Inc now owns 379,344 shares of the aircraft producer’s stock worth $73,210,000 after purchasing an additional 27,024 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Boeing by 12.3% in the first quarter. Kingsview Wealth Management LLC now owns 24,892 shares of the aircraft producer’s stock worth $4,804,000 after acquiring an additional 2,728 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in shares of Boeing by 51.4% during the first quarter. Midwest Professional Planners LTD. now owns 1,370 shares of the aircraft producer’s stock worth $264,000 after purchasing an additional 465 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Boeing by 274.1% in the first quarter. Orion Portfolio Solutions LLC now owns 43,865 shares of the aircraft producer’s stock valued at $8,466,000 after purchasing an additional 32,139 shares during the last quarter. Finally, Leo Wealth LLC raised its holdings in Boeing by 20.8% during the first quarter. Leo Wealth LLC now owns 2,453 shares of the aircraft producer’s stock worth $469,000 after purchasing an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BA shares. Robert W. Baird dropped their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Jefferies Financial Group reduced their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

BA stock opened at $139.98 on Thursday. The firm has a market capitalization of $86.54 billion, a P/E ratio of -10.85 and a beta of 1.57. The Boeing Company has a 52-week low of $139.10 and a 52-week high of $267.54. The company’s 50 day simple moving average is $154.49 and its 200-day simple moving average is $170.11.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that The Boeing Company will post -16.09 EPS for the current fiscal year.

Boeing Company 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.