Retirement Systems of Alabama Cuts Holdings in The Boeing Company (NYSE:BA)

Retirement Systems of Alabama cut its position in shares of The Boeing Company (NYSE:BA) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 319,813 shares of the aircraft producer’s stock after selling 3,384 shares during the quarter. Retirement Systems of Alabama’s holdings in Boeing were worth $83,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in Boeing by 1.0% during the 3rd quarter. Trust Co. of Vermont now owns 4,389 shares of the aircraft producer’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its position in Boeing by 2.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,785 shares of the aircraft producer’s stock valued at $465,000 after acquiring an additional 47 shares during the period. WealthPlan Investment Management LLC lifted its position in Boeing by 1.0% during the 4th quarter. WealthPlan Investment Management LLC now owns 4,716 shares of the aircraft producer’s stock valued at $1,229,000 after acquiring an additional 49 shares during the period. RB Capital Management LLC lifted its position in Boeing by 2.7% during the 3rd quarter. RB Capital Management LLC now owns 1,893 shares of the aircraft producer’s stock valued at $363,000 after acquiring an additional 50 shares during the period. Finally, M&R Capital Management Inc. increased its stake in Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after purchasing an additional 50 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.2 %

NYSE:BA traded up $0.41 during trading hours on Friday, hitting $167.22. 7,208,103 shares of the stock traded hands, compared to its average volume of 7,379,195. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The company has a market cap of $102.65 billion, a price-to-earnings ratio of -47.10, a price-to-earnings-growth ratio of 140.43 and a beta of 1.52. The stock has a 50 day moving average price of $186.53 and a 200 day moving average price of $206.55.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the prior year, the firm earned ($1.75) EPS. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts forecast that The Boeing Company will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BA shares. UBS Group reduced their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Bank of America reduced their price objective on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. The Goldman Sachs Group reduced their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Northcoast Research lowered shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Wednesday, April 17th. Finally, Susquehanna reduced their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $222.41.

About Boeing

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.