Pittenger & Anderson Inc. Lowers Stake in The Boeing Company (NYSE:BA)

Pittenger & Anderson Inc. reduced its holdings in shares of The Boeing Company (NYSE:BAGet Rating) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,825 shares of the aircraft producer’s stock after selling 95 shares during the period. Pittenger & Anderson Inc.’s holdings in Boeing were worth $523,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Meridian Wealth Partners LLC lifted its stake in Boeing by 4.4% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,308 shares of the aircraft producer’s stock valued at $263,000 after purchasing an additional 55 shares during the last quarter. Lindbrook Capital LLC lifted its position in Boeing by 0.5% during the first quarter. Lindbrook Capital LLC now owns 11,361 shares of the aircraft producer’s stock worth $2,176,000 after acquiring an additional 56 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in Boeing by 42.1% during the first quarter. Blue Bell Private Wealth Management LLC now owns 189 shares of the aircraft producer’s stock worth $36,000 after acquiring an additional 56 shares during the last quarter. Confluence Wealth Services Inc. lifted its position in Boeing by 2.7% during the first quarter. Confluence Wealth Services Inc. now owns 2,460 shares of the aircraft producer’s stock worth $471,000 after acquiring an additional 64 shares during the last quarter. Finally, Weik Capital Management lifted its position in Boeing by 1.3% during the fourth quarter. Weik Capital Management now owns 5,029 shares of the aircraft producer’s stock worth $1,012,000 after acquiring an additional 65 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BA. Citigroup raised shares of Boeing from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $219.00 to $209.00 in a report on Thursday, June 16th. Benchmark lowered their target price on shares of Boeing from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, July 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $281.00 target price on shares of Boeing in a report on Tuesday, August 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $245.00 target price on shares of Boeing in a report on Wednesday, September 7th. Finally, Morgan Stanley lifted their price objective on shares of Boeing from $215.00 to $233.00 and gave the company an “overweight” rating in a research note on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.07.

Boeing Stock Performance

Shares of NYSE:BA opened at $138.71 on Friday. The firm has a market cap of $82.37 billion, a PE ratio of -15.50 and a beta of 1.35. The firm’s fifty day moving average is $158.67 and its 200-day moving average is $156.08. The Boeing Company has a 52 week low of $113.02 and a 52 week high of $233.94.

Boeing (NYSE:BAGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.23). The firm had revenue of $16.68 billion for the quarter, compared to the consensus estimate of $17.53 billion. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. Sell-side analysts forecast that The Boeing Company will post -1.95 EPS for the current year.

About Boeing

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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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