Gibraltar Capital Management Inc. Trims Stock Position in The Boeing Company (NYSE:BA)

Gibraltar Capital Management Inc. lessened its position in The Boeing Company (NYSE:BA) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,978 shares of the aircraft producer’s stock after selling 1,608 shares during the period. Boeing comprises about 3.0% of Gibraltar Capital Management Inc.’s holdings, making the stock its 13th biggest position. Gibraltar Capital Management Inc.’s holdings in Boeing were worth $7,032,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Strategic Blueprint LLC increased its position in shares of Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after acquiring an additional 264 shares in the last quarter. Orca Investment Management LLC increased its position in shares of Boeing by 5.5% in the fourth quarter. Orca Investment Management LLC now owns 3,772 shares of the aircraft producer’s stock worth $983,000 after acquiring an additional 195 shares in the last quarter. Morse Asset Management Inc increased its position in shares of Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after acquiring an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its holdings in Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after acquiring an additional 33,904 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after acquiring an additional 19,847 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 3.3 %

NYSE:BA traded down $5.65 during mid-day trading on Tuesday, hitting $167.84. The stock had a trading volume of 8,171,877 shares, compared to its average volume of 9,716,028. The stock has a market capitalization of $103.03 billion, a price-to-earnings ratio of -47.28 and a beta of 1.52. The company has a 50 day simple moving average of $185.21 and a 200-day simple moving average of $206.38. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 business had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) EPS. As a group, equities research analysts anticipate that The Boeing Company will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Edward Jones lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Barclays lowered their price target 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. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Finally, Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.