Skandinaviska Enskilda Banken AB publ Sells 1,264 Shares of The Boeing Company (NYSE:BA)

Posted by on Feb 24th, 2023

Skandinaviska Enskilda Banken AB publ decreased its position in The Boeing Company (NYSE:BA – Get Rating) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,435 shares of the aircraft producer’s stock after selling 1,264 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Boeing were worth $900,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP grew its position in Boeing by 241.5% during the third quarter. ExodusPoint Capital Management LP now owns 94,629 shares of the aircraft producer’s stock valued at $11,458,000 after buying an additional 66,919 shares during the period. McDonald Partners LLC grew its position in Boeing by 4.1% during the third quarter. McDonald Partners LLC now owns 3,221 shares of the aircraft producer’s stock valued at $390,000 after buying an additional 126 shares during the period. AMG National Trust Bank grew its position in Boeing by 2.2% during the third quarter. AMG National Trust Bank now owns 8,833 shares of the aircraft producer’s stock valued at $1,069,000 after buying an additional 186 shares during the period. Vigilant Capital Management LLC grew its position in Boeing by 130.8% during the third quarter. Vigilant Capital Management LLC now owns 577 shares of the aircraft producer’s stock valued at $70,000 after buying an additional 327 shares during the period. Finally, Meeder Asset Management Inc. grew its position in Boeing by 5.6% during the second quarter. Meeder Asset Management Inc. now owns 6,481 shares of the aircraft producer’s stock valued at $886,000 after buying an additional 343 shares during the period. Institutional investors own 57.07% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $208.13 on Friday. The firm’s 50 day simple moving average is $205.28 and its 200 day simple moving average is $173.66. The company has a market capitalization of $124.51 billion, a P/E ratio of -25.11, a P/E/G ratio of 55.62 and a beta of 1.41. The Boeing Company has a 1-year low of $113.02 and a 1-year high of $221.33.

Boeing (NYSE:BA – Get Rating) last announced its earnings results on Wednesday, January 25th. The aircraft producer reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.80). The company had revenue of $19.98 billion for the quarter, compared to analyst estimates of $20.10 billion. Boeing’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($7.69) earnings per share. On average, equities analysts anticipate that The Boeing Company will post 0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BA shares. JPMorgan Chase & Co. set a $225.00 price target on shares of Boeing in a research report on Friday, February 10th. StockNews.com raised shares of Boeing from a “sell” rating to a “hold” rating in a report on Monday, January 30th. Morgan Stanley downgraded shares of Boeing from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $213.00 to $220.00 in a report on Tuesday, January 10th. Redburn Partners initiated coverage on shares of Boeing in a report on Monday, November 7th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Boeing from $218.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $225.41.

Boeing Profile

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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