Brookstone Capital Management Sells 936 Shares of The Boeing Company (NYSE:BA)

Posted by on Mar 19th, 2023

Brookstone Capital Management lessened its holdings in The Boeing Company (NYSE:BA – Get Rating) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,674 shares of the aircraft producer’s stock after selling 936 shares during the period. Brookstone Capital Management’s holdings in Boeing were worth $3,338,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Baird Financial Group Inc. lifted its stake in shares of Boeing by 8.0% in the 3rd quarter. Baird Financial Group Inc. now owns 238,221 shares of the aircraft producer’s stock worth $28,844,000 after purchasing an additional 17,716 shares during the period. Meiji Yasuda Life Insurance Co raised its stake in Boeing by 10.2% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 3,297 shares of the aircraft producer’s stock worth $399,000 after acquiring an additional 306 shares during the period. ExodusPoint Capital Management LP raised its stake in Boeing by 241.5% during the 3rd quarter. ExodusPoint Capital Management LP now owns 94,629 shares of the aircraft producer’s stock worth $11,458,000 after acquiring an additional 66,919 shares during the period. McDonald Partners LLC raised its stake in Boeing by 4.1% during the 3rd quarter. McDonald Partners LLC now owns 3,221 shares of the aircraft producer’s stock worth $390,000 after acquiring an additional 126 shares during the period. Finally, Kentucky Retirement Systems raised its stake in Boeing by 5.9% during the 3rd quarter. Kentucky Retirement Systems now owns 43,693 shares of the aircraft producer’s stock worth $5,290,000 after acquiring an additional 2,417 shares during the period. Institutional investors own 57.07% of the company’s stock.

Boeing Stock Performance

BA stock opened at $201.05 on Friday. The firm has a fifty day moving average price of $209.05 and a 200 day moving average price of $178.03. The Boeing Company has a fifty-two week low of $113.02 and a fifty-two week high of $221.33. The firm has a market cap of $120.47 billion, a PE ratio of -24.25, a price-to-earnings-growth ratio of 53.21 and a beta of 1.43.

Boeing (NYSE:BA – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The aircraft producer reported ($1.75) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.80). The business had revenue of $19.98 billion for the quarter, compared to the consensus estimate of $20.10 billion. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm earned ($7.69) earnings per share. On average, equities analysts predict that The Boeing Company will post 0.74 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Boeing from $218.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Susquehanna Bancshares raised their target price on shares of Boeing from $185.00 to $217.00 and gave the stock a “positive” rating in a research note on Wednesday, December 14th. Bank of America lifted their price objective on shares of Boeing from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, December 7th. Morgan Stanley cut shares of Boeing from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $213.00 to $220.00 in a research report on Tuesday, January 10th. Finally, StockNews.com began coverage on shares of Boeing in a research report on Thursday. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.13.

About Boeing

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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.

Further Reading

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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