Horizon Wealth Management LLC Has $765,000 Stock Holdings in The Boeing Company (NYSE:BA)

Horizon Wealth Management LLC grew its stake in The Boeing Company (NYSE:BA) by 30.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,324 shares of the aircraft producer’s stock after purchasing an additional 1,000 shares during the quarter. Horizon Wealth Management LLC’s holdings in Boeing were worth $765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Boeing by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after buying an additional 7,739 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Boeing by 325.4% during the second quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock worth $55,000 after purchasing an additional 231 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of Boeing by 87.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 836 shares of the aircraft producer’s stock valued at $152,000 after purchasing an additional 389 shares in the last quarter. Westover Capital Advisors LLC bought a new stake in Boeing during the 2nd quarter worth approximately $348,000. Finally, Thoroughbred Financial Services LLC raised its holdings in Boeing by 5.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,803 shares of the aircraft producer’s stock worth $1,966,000 after buying an additional 520 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of BA stock traded down $1.44 on Monday, hitting $170.56. The company’s stock had a trading volume of 6,003,681 shares, compared to its average volume of 8,544,258. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The company has a market capitalization of $105.44 billion, a PE ratio of -13.22 and a beta of 1.52. The stock’s 50 day moving average is $161.39 and its 200-day moving average is $165.16.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) earnings per share. On average, research analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BA shares. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Jefferies Financial Group reduced their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.21.

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.