Clifford Swan Investment Counsel LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Clifford Swan Investment Counsel LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,010 shares of the aircraft producer’s stock after selling 2,341 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Boeing were worth $13,818,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BA. Jennison Associates LLC acquired a new position in shares of Boeing during the 4th quarter worth about $960,397,000. Lazard Asset Management LLC raised its holdings in shares of Boeing by 8,961.2% during the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after acquiring an additional 1,148,643 shares during the last quarter. Barclays PLC lifted its position in shares of Boeing by 54.5% in the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after acquiring an additional 829,321 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Boeing by 30.1% in the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after acquiring an additional 759,267 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Boeing by 726.7% during the fourth quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after purchasing an additional 549,318 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of NYSE:BA traded up $0.94 during mid-day trading on Friday, reaching $179.79. 5,416,263 shares of the company were exchanged, compared to its average volume of 8,228,397. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The firm’s 50-day simple moving average is $183.74 and its 200 day simple moving average is $206.20. The firm has a market cap of $110.37 billion, a price-to-earnings ratio of -50.64 and a beta of 1.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping 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 quarter in the prior year, the business earned ($1.75) earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that The Boeing Company will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BA shares. Stifel Nicolaus decreased their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Bank of America lowered their price target on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. UBS Group cut their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Citigroup decreased their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Royal Bank of Canada dropped their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $222.41.

Boeing Company 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.