Shulman DeMeo Asset Management LLC cut its position in shares of The Boeing Company (NYSE:BA) by 3.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,452 shares of the aircraft producer’s stock after selling 57 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in The Boeing were worth $311,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new position in The Boeing in the third quarter worth about $25,000. Magnolia Capital Advisors LLC bought a new position in The Boeing in the 3rd quarter valued at approximately $26,000. Tortoise Investment Management LLC boosted its stake in The Boeing by 83.3% during the 3rd quarter. Tortoise Investment Management LLC now owns 165 shares of the aircraft producer’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Professional Financial Advisors LLC bought a new stake in shares of The Boeing in the 3rd quarter worth $31,000. Finally, Hall Laurie J Trustee purchased a new position in shares of The Boeing in the third quarter worth $33,000. Institutional investors own 51.41% of the company’s stock.
BA stock traded down $0.58 during midday trading on Wednesday, reaching $207.83. The company’s stock had a trading volume of 383,326 shares, compared to its average volume of 16,399,143. The Boeing Company has a 1 year low of $89.00 and a 1 year high of $349.95. The firm has a market capitalization of $117.33 billion, a price-to-earnings ratio of -26.41, a PEG ratio of 111.95 and a beta of 1.65. The stock has a fifty day simple moving average of $219.92 and a two-hundred day simple moving average of $183.09.
Several research firms have issued reports on BA. Morgan Stanley lowered their target price on shares of The Boeing from $181.00 to $165.00 and set an “underweight” rating on the stock in a research note on Thursday, October 29th. Smith Barney Citigroup upped their price objective on The Boeing from $175.00 to $200.00 in a research note on Wednesday, November 18th. Zacks Investment Research lowered The Boeing from a “hold” rating to a “sell” rating and set a $215.00 price objective for the company. in a research note on Tuesday, January 5th. ValuEngine upgraded The Boeing from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Wolfe Research lowered The Boeing from a “peer perform” rating to an “underperform” rating in a research note on Friday, December 4th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $221.75.
About The Boeing
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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