Accel Wealth Management Reduces Stock Position in The Boeing Company (NYSE:BA)

Accel Wealth Management cut its stake in The Boeing Company (NYSE:BA) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,607 shares of the aircraft producer’s stock after selling 62 shares during the quarter. Accel Wealth Management’s holdings in Boeing were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BA. Strategic Blueprint LLC raised its holdings in Boeing by 8.7% in the 4th quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock worth $859,000 after purchasing an additional 264 shares in the last quarter. RFG Advisory LLC increased its stake in shares of Boeing by 9.3% in the 4th quarter. RFG Advisory LLC now owns 4,562 shares of the aircraft producer’s stock worth $1,189,000 after acquiring an additional 390 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Boeing by 97.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 38,379 shares of the aircraft producer’s stock worth $10,004,000 after acquiring an additional 18,896 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Boeing by 2.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 9,508 shares of the aircraft producer’s stock worth $2,478,000 after acquiring an additional 237 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC increased its stake in shares of Boeing by 2.1% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 4,233 shares of the aircraft producer’s stock worth $1,103,000 after acquiring an additional 86 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BA has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research report on Wednesday, April 17th. Bank of America increased their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Finally, UBS Group cut their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.18.

Boeing Trading Down 0.6 %

NYSE BA traded down $0.96 on Friday, reaching $167.91. 3,635,590 shares of the stock were exchanged, compared to its average volume of 8,144,988. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The firm has a market capitalization of $103.08 billion, a PE ratio of -47.30 and a beta of 1.56. The company’s 50-day simple moving average is $181.08 and its two-hundred day simple moving average is $185.89.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that The Boeing Company will post -2.38 earnings per share for the current fiscal year.

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.