The Boeing Company (NYSE:BA) Stock Position Cut by FAS Wealth Partners Inc.

FAS Wealth Partners Inc. lessened its position in The Boeing Company (NYSE:BA) by 65.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,639 shares of the aircraft producer’s stock after selling 8,697 shares during the period. FAS Wealth Partners Inc.’s holdings in Boeing were worth $844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BA. Brio Consultants LLC acquired a new position in shares of Boeing in the 4th quarter worth $207,000. Russell Investments Group Ltd. boosted its position in shares of Boeing by 18.3% in the 4th quarter. Russell Investments Group Ltd. now owns 80,590 shares of the aircraft producer’s stock valued at $21,005,000 after purchasing an additional 12,493 shares during the period. Silver Oak Securities Incorporated increased its stake in Boeing by 154.3% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the aircraft producer’s stock worth $371,000 after purchasing an additional 864 shares in the last quarter. Eagle Wealth Strategies LLC acquired a new stake in Boeing during the 4th quarter worth about $793,000. Finally, Capital Investment Counsel Inc lifted its stake in Boeing by 5.5% during the fourth quarter. Capital Investment Counsel Inc now owns 2,306 shares of the aircraft producer’s stock valued at $601,000 after buying an additional 120 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Shares of BA traded up $1.55 on Thursday, reaching $172.26. 4,115,719 shares of the stock traded hands, compared to its average volume of 7,874,486. The stock’s 50-day moving average price is $178.26 and its 200-day moving average price is $182.53. The firm has a market cap of $105.75 billion, a price-to-earnings ratio of -48.52 and a beta of 1.56. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.82) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the topic of several analyst reports. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Robert W. Baird lowered their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. UBS Group reduced their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Bank of America lifted their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $215.18.

About Boeing

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.