Rakuten Securities Inc. Sells 530 Shares of The Boeing Company (NYSE:BA)

Rakuten Securities Inc. lowered its stake in The Boeing Company (NYSE:BA) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,904 shares of the aircraft producer’s stock after selling 530 shares during the period. Rakuten Securities Inc.’s holdings in Boeing were worth $746,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BA. Vanguard Group Inc. boosted its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC boosted its stake in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Legal & General Group Plc boosted its stake in Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Robert W. Baird lowered their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Finally, Citigroup lowered their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing Price Performance

Shares of NYSE BA opened at $148.96 on Tuesday. The Boeing Company has a one year low of $144.13 and a one year high of $267.54. The stock has a market capitalization of $92.09 billion, a PE ratio of -11.55 and a beta of 1.57. The business’s fifty day moving average price is $154.81 and its 200-day moving average price is $170.26.

Boeing (NYSE:BA) last released its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm posted ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that The Boeing Company will post -16.09 EPS for the current fiscal year.

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.