Allspring Global Investments Holdings LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Allspring Global Investments Holdings LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,562 shares of the aircraft producer’s stock after selling 3,103 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Boeing were worth $10,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. CNB Bank grew its stake in shares of Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of Boeing during the fourth quarter worth $33,000. M&R Capital Management Inc. grew its stake in shares of Boeing by 35.0% during the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 50 shares in the last quarter. Fortis Capital Advisors LLC grew its stake in shares of Boeing by 100.0% during the first quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Park Place Capital Corp grew its stake in shares of Boeing by 185.1% during the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BA. Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America decreased 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. Royal Bank of Canada decreased their price objective on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen decreased their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Finally, Melius restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.88.

Boeing Stock Up 1.6 %

NYSE BA opened at $170.55 on Wednesday. The stock has a market capitalization of $104.06 billion, a P/E ratio of -46.34, a P/E/G ratio of 115.71 and a beta of 1.52. The Boeing Company has a 52-week low of $167.53 and a 52-week high of $267.54. The firm has a 50-day moving average price of $192.69 and a 200 day moving average price of $207.80.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (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. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned ($1.75) earnings per share. On average, equities research analysts expect that The Boeing Company will post 0.37 earnings per share for the current fiscal year.

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.