Avantax Advisory Services Inc. Reduces Stake in The Boeing Company (NYSE:BA)

Avantax Advisory Services Inc. reduced its position in The Boeing Company (NYSE:BA) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,557 shares of the aircraft producer’s stock after selling 3,813 shares during the period. Avantax Advisory Services Inc.’s holdings in Boeing were worth $6,669,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BA. American Century Companies Inc. increased its position in Boeing by 8.2% during the third quarter. American Century Companies Inc. now owns 32,714 shares of the aircraft producer’s stock worth $6,271,000 after buying an additional 2,480 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Boeing by 17.7% in the third quarter. Wellington Management Group LLP now owns 518,050 shares of the aircraft producer’s stock valued at $99,300,000 after purchasing an additional 78,068 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Boeing by 1,109.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 399 shares of the aircraft producer’s stock valued at $104,000 after purchasing an additional 366 shares during the period. First Hawaiian Bank grew its position in shares of Boeing by 46.4% in the fourth quarter. First Hawaiian Bank now owns 7,564 shares of the aircraft producer’s stock valued at $1,972,000 after purchasing an additional 2,397 shares during the period. Finally, Wedmont Private Capital grew its position in shares of Boeing by 27.4% in the fourth quarter. Wedmont Private Capital now owns 6,046 shares of the aircraft producer’s stock valued at $1,576,000 after purchasing an additional 1,301 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.6 %

Shares of Boeing stock traded down $1.20 during midday trading on Wednesday, hitting $184.85. The company’s stock had a trading volume of 3,574,306 shares, compared to its average volume of 8,271,967. The firm has a market capitalization of $113.48 billion, a P/E ratio of -52.37 and a beta of 1.56. The stock has a 50-day simple moving average of $181.40 and a 200-day simple moving average of $191.55. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. As a group, sell-side analysts predict that The Boeing Company will post -1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BA shares. StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Robert W. Baird dropped their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Barclays dropped their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing 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.