The Boeing Company (NYSE:BA) Shares Sold by Altus Wealth Group LLC

Altus Wealth Group LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 12.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,254 shares of the aircraft producer’s stock after selling 175 shares during the quarter. Altus Wealth Group LLC’s holdings in Boeing were worth $228,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BA. JFS Wealth Advisors LLC grew its stake in Boeing by 2.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock valued at $661,000 after acquiring an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Boeing by 1.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock valued at $1,094,000 after purchasing an additional 50 shares during the last quarter. Davis R M Inc. lifted its position in Boeing by 1.8% during the fourth quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after buying an additional 52 shares in the last quarter. Westpac Banking Corp boosted its stake in Boeing by 1.6% during the fourth quarter. Westpac Banking Corp now owns 3,336 shares of the aircraft producer’s stock worth $870,000 after buying an additional 54 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Boeing by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after acquiring an additional 56 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Robert W. Baird reduced their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Wells Fargo & Company restated an “underweight” rating and issued a $119.00 price objective (down from $185.00) on shares of Boeing in a report on Tuesday. Finally, UBS Group dropped their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Boeing Trading Down 0.7 %

Shares of NYSE:BA opened at $162.15 on Friday. The firm has a 50 day simple moving average of $177.02 and a 200-day simple moving average of $181.13. The company has a market capitalization of $99.54 billion, a PE ratio of -45.68 and a beta of 1.56. The Boeing Company has a twelve month low of $158.30 and a twelve 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 for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -4.26 EPS 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.