The Boeing Company $BA Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC cut its stake in The Boeing Company (NYSE:BA) by 9.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,976 shares of the aircraft producer’s stock after selling 2,852 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Boeing were worth $4,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Jupiter Topco LLC acquired a new position in shares of Boeing during the second quarter valued at approximately $911,878,000. Bank of New York Mellon Corp acquired a new stake in shares of Boeing in the second quarter worth approximately $747,763,000. Legal & General Group Plc purchased a new stake in shares of Boeing during the second quarter worth approximately $710,816,000. Deutsche Bank AG purchased a new position in Boeing in the 2nd quarter valued at $539,456,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Boeing in the 2nd quarter worth approximately $441,997,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 0.9%

Boeing stock traded down $1.75 during midday trading on Thursday, reaching $186.57. 4,282,035 shares of the stock traded hands, compared to its average volume of 6,828,457. The firm has a market cap of $147.46 billion, a PE ratio of 80.86 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 0.33 and a debt-to-equity ratio of 6.77. The company has a 50-day simple moving average of $210.89 and a two-hundred day simple moving average of $216.09. The Boeing Company has a 12-month low of $176.77 and a 12-month high of $254.35.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, July 28th. The aircraft producer reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.42). The business had revenue of $24.56 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Boeing had a negative return on equity of 346.82% and a net margin of 2.41%.The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.24) earnings per share. Research analysts expect that The Boeing Company will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent research reports. William Blair restated an “outperform” rating on shares of Boeing in a report on Wednesday, September 30th. Barclays downgraded Boeing from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered Boeing to a “neutral” rating in a report on Tuesday, August 11th. Citigroup cut shares of Boeing from a “buy” rating to a “sell” rating in a research report on Tuesday, August 11th. Finally, Argus upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $270.95.

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, spacecraft and related systems. Its commercial portfolio includes the 737, 787 Dreamliner and 777 families, as well as the 777X program. Boeing sells aircraft to airlines, cargo operators and leasing companies around the world.

Through its defense and space operations, Boeing provides products and services for the U.S. government, allied governments and other institutional customers.