Boeing Faces Downgrade as Institutional Investors Shift Positions
Fintel reports that on October 30, 2024, Bernstein downgraded their outlook for Boeing (BRSE:BA) from Outperform to Market Perform.
Analyzing Fund Sentiment
Currently, 2,840 funds or institutions hold positions in Boeing. This represents a drop of 140 owners, or 4.70%, from the last quarter. The average portfolio weight of all funds invested in BA stands at 0.36%, reflecting an increase of 1.50%. Over the past three months, total shares owned by institutions rose by 11.16%, totaling 491,026K shares.
Newport Trust holds 31,640K shares, accounting for 4.33% ownership of Boeing. In its previous filing, they reported 31,252K shares, marking a 1.23% increase, although they reduced their portfolio allocation in BA by 11.74% last quarter.
Capital Research Global Investors possesses 26,539K shares, representing 3.63% of Boeing. In their last filing, they owned 16,446K shares, which is a significant 38.03% increase. Their portfolio allocation in BA surged by 47.59% this past quarter.
The VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,405K shares for 2.66% ownership. Their previous holdings were 19,188K shares, resulting in a 1.12% increase, but they decreased their portfolio allocation in BA by 7.25% over the last quarter.
AGTHX – GROWTH FUND OF AMERICA controls 16,540K shares, providing 2.26% ownership. In its last report, the fund owned 12,367K shares, which reflects a 25.23% increase. They increased their portfolio allocation in BA by 24.42% during the last quarter.
Loomis Sayles & Co L P has 14,829K shares, equal to 2.03% ownership of Boeing. Previously, they reported 13,447K shares, resulting in a 9.32% increase. They increased their allocation in BA by 0.79% over the last quarter.
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This story originally appeared on Fintel.
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