Geneos Wealth Management Inc. Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Geneos Wealth Management Inc. cut its holdings in The Boeing Company (NYSE:BA) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,672 shares of the aircraft producer’s stock after selling 1,235 shares during the period. Geneos Wealth Management Inc.’s holdings in Boeing were worth $1,004,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC grew its stake in Boeing by 289.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Franklin Resources Inc. raised its holdings in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. State Street Corp lifted its stake in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Down 0.6 %

NYSE BA opened at $175.09 on Tuesday. The company’s fifty day simple moving average is $166.42 and its 200-day simple moving average is $164.29. The stock has a market cap of $108.24 billion, a P/E ratio of -13.57 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $214.63.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Robert W. Baird lowered 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. Citigroup cut their price target on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday. Finally, TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.11.

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.