Edge Wealth Management LLC Has $868,000 Stake in The Boeing Company (NYSE:BA)

Edge Wealth Management LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,499 shares of the aircraft producer’s stock after selling 850 shares during the quarter. Edge Wealth Management LLC’s holdings in Boeing were worth $868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Jennison Associates LLC bought a new stake in Boeing during the fourth quarter worth $960,397,000. Wellington Management Group LLP boosted its holdings in shares of Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Boeing by 23.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Boeing by 861.6% in the 4th quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock traded up $0.69 during midday trading on Friday, hitting $183.20. 492,088 shares of the company’s stock were exchanged, compared to its average volume of 8,511,852. The stock has a 50-day moving average price of $178.00 and a two-hundred day moving average price of $199.34. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $17.69 billion. On average, research analysts forecast that The Boeing Company will post -1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BA. Stifel Nicolaus reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Boeing in a research note on Wednesday, May 15th. Argus lowered Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Melius Research restated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Royal Bank of Canada cut their price objective on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Finally, Barclays lowered their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Company Profile

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.