Highland Capital Management LLC Reduces Its Stake in The Boeing Company

Highland Capital Management LLC has decreased its position in The Boeing Company (NYSE:BA) by 5.1% during the third quarter, according to reports from Holdings Channel.com. After selling 1,115 shares during this period, the fund now holds 20,933 shares of the well-known aircraft manufacturer. As of the latest filing with the SEC, Highland Capital Management's stake in Boeing is valued at approximately $3,183,000.

Additionally, other institutional investors have also made adjustments to their positions in Boeing. For instance, Kiely Wealth Advisory Group Inc. established a new position in Boeing worth about $33,000 in the second quarter. Similarly, Hobbs Group Advisors LLC also acquired a new stake in Boeing during the same quarter, valued at around $34,000.

Moreover, McClarren Financial Advisors Inc. significantly increased its holdings in Boeing by 451.4% during the first quarter, now owning 193 shares valued at $37,000 after acquiring an additional 158 shares. Harel Insurance Investments & Financial Services Ltd. also boosted its position in Boeing by 351.1% in the second quarter, increasing its share count to 212, which is now valued at $39,000.

1620 Investment Advisors Inc. secured a new stake in Boeing during the second quarter, valued at $39,000. Collectively, institutional investors and hedge funds own 64.82% of Boeing's shares.

Insights from Wall Street Analysts

Recent comments from several research analysts have impacted Boeing's stock outlook. On October 15th, Citigroup reduced its price target for Boeing from $224.00 to $209.00 while maintaining a 'buy' rating for the stock. UBS Group also lowered its price target from $215.00 to $195.00 and kept a 'buy' rating on the company.

In another analysis, Deutsche Bank Aktiengesellschaft cut their price target on Boeing from $225.00 to $195.00 and reiterated a 'buy' rating. Similarly, JPMorgan Chase & Co. adjusted their target price from $235.00 to $195.00, assigning an 'overweight' rating for the stock. Lastly, The Goldman Sachs Group also reduced its price target from $232.00 to $202.00 while maintaining its 'buy' recommendation. Overall, research indicates mixed sentiments, with three analysts rating the stock as 'sell,' eight as 'hold,' and fourteen as 'buy,' along with one 'strong buy' rating. Currently, Boeing has a consensus rating of 'Moderate Buy,' with an average price target set at $191.79.

Boeing's Current Market Performance

Boeing's stock opened at $155.01 on the NYSE this past Friday, reflecting a market capitalization of $95.16 billion. The company's price-to-earnings ratio stands at -43.66 with a beta of 1.57. Boeing's 50-day moving average is $159.68, while its 200-day moving average is $171.66. The aircraft producer has experienced significant volatility, hitting a 12-month low of $146.02 and a high of $267.54.

On October 23rd, Boeing released its latest quarterly earnings, reporting an earnings per share (EPS) of ($10.44), which fell short of the consensus estimate of ($10.34) by $0.10. The company achieved a revenue of $17.84 billion for the quarter, slightly above the anticipated $17.81 billion, though this represented a 1.5% decline in revenue compared to the same time last year. In the previous year, Boeing reported an EPS of ($3.26) for the same quarter. Analysts forecast that Boeing's expected EPS for the current fiscal year will be around -5.35.

About The Boeing Company

The Boeing Company, including its subsidiaries, specializes in designing, developing, manufacturing, selling, servicing, and supporting a wide range of products, which includes commercial jetliners, military aircraft, satellites, missile defense systems, human space flight systems, and more. The company operates through different segments, including Commercial Airplanes, Defense, Space & Security, and Global Services.

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If you want to keep track of what other hedge funds are doing with Boeing's shares, please visit HoldingsChannel.com.

Boeing, Investment, Stock