Wallington Asset Management LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Wallington Asset Management LLC trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,899 shares of the aircraft producer’s stock after selling 100 shares during the quarter. Wallington Asset Management LLC’s holdings in Boeing were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Altus Wealth Group LLC increased its position in shares of Boeing by 5.7% during the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after acquiring an additional 71 shares during the last quarter. Tempus Wealth Planning LLC increased its position in shares of Boeing by 10.5% during the third quarter. Tempus Wealth Planning LLC now owns 7,161 shares of the aircraft producer’s stock valued at $1,089,000 after acquiring an additional 680 shares during the last quarter. Stanley Laman Group Ltd. increased its position in shares of Boeing by 1.7% during the third quarter. Stanley Laman Group Ltd. now owns 24,981 shares of the aircraft producer’s stock valued at $3,798,000 after acquiring an additional 424 shares during the last quarter. Waldron Private Wealth LLC increased its position in shares of Boeing by 9.3% during the third quarter. Waldron Private Wealth LLC now owns 5,431 shares of the aircraft producer’s stock valued at $826,000 after acquiring an additional 461 shares during the last quarter. Finally, Eastern Bank increased its position in Boeing by 154.0% in the third quarter. Eastern Bank now owns 12,120 shares of the aircraft producer’s stock worth $1,843,000 after buying an additional 7,348 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

NYSE:BA opened at $157.06 on Thursday. The firm has a market capitalization of $96.42 billion, a price-to-earnings ratio of -44.24 and a beta of 1.57. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54. The stock has a fifty day moving average of $160.61 and a 200 day moving average of $172.01.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.82) earnings per share. Equities analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on BA. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Sanford C. Bernstein decreased their target price on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.79.

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.