Boeing Co (NYSE:BA) Stock Position Reduced by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC lessened its position in shares of Boeing Co (NYSE:BA) by 44.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,794 shares of the aircraft producer’s stock after selling 38,819 shares during the period. Boeing comprises 1.6% of Abner Herrman & Brock LLC’s portfolio, making the stock its 23rd largest position. Abner Herrman & Brock LLC’s holdings in Boeing were worth $7,277,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. McMahon Financial Advisors LLC bought a new position in Boeing during the 1st quarter worth approximately $1,971,000. FLC Capital Advisors lifted its holdings in Boeing by 59.6% during the 1st quarter. FLC Capital Advisors now owns 6,713 shares of the aircraft producer’s stock worth $828,000 after buying an additional 2,506 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its position in shares of Boeing by 24.2% during the 1st quarter. Clifford Swan Investment Counsel LLC now owns 98,897 shares of the aircraft producer’s stock worth $14,749,000 after purchasing an additional 19,294 shares during the period. Nadler Financial Group Inc. raised its position in shares of Boeing by 62.5% during the 1st quarter. Nadler Financial Group Inc. now owns 1,640 shares of the aircraft producer’s stock worth $245,000 after purchasing an additional 631 shares during the period. Finally, Investors Financial Group LLC raised its position in shares of Boeing by 170.6% during the 1st quarter. Investors Financial Group LLC now owns 2,322 shares of the aircraft producer’s stock worth $346,000 after purchasing an additional 1,464 shares during the period. 67.74% of the stock is currently owned by institutional investors.

A number of analysts have recently weighed in on BA shares. Norddeutsche Landesbank upgraded Boeing to a “hold” rating in a research report on Thursday, March 19th. Credit Suisse Group lowered their target price on Boeing from $367.00 to $187.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Barclays restated a “neutral” rating and issued a $325.00 target price on shares of Boeing in a research report on Tuesday, February 11th. Vertical Group cut Boeing from a “neutral” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Sanford C. Bernstein restated a “buy” rating and issued a $401.00 target price on shares of Boeing in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $266.11.

Shares of BA traded up $4.97 during trading hours on Thursday, hitting $151.84. 37,855,985 shares of the company were exchanged, compared to its average volume of 19,601,922. The company has a market capitalization of $79.73 billion, a PE ratio of -126.53 and a beta of 1.76. The firm has a fifty day simple moving average of $209.06 and a 200-day simple moving average of $313.43. Boeing Co has a one year low of $89.00 and a one year high of $391.00.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 29th. The aircraft producer reported ($2.33) earnings per share for the quarter, missing the consensus estimate of $1.47 by ($3.80). The company had revenue of $17.91 billion for the quarter, compared to the consensus estimate of $21.76 billion. Boeing had a negative return on equity of 70.76% and a negative net margin of 0.83%. The business’s revenue was down 36.8% compared to the same quarter last year. During the same period in the prior year, the business earned $5.48 earnings per share. Equities analysts anticipate that Boeing Co will post -1.17 earnings per share for the current fiscal year.

About 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 in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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