Cetera Advisor Networks LLC Grows Holdings in The Boeing Company (NYSE:BA)

Cetera Advisor Networks LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,848 shares of the aircraft producer’s stock after buying an additional 20,112 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Boeing were worth $27,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC bought a new position in Boeing during the fourth quarter worth $26,000. Evolution Advisers Inc. bought a new position in Boeing during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing during the fourth quarter worth $28,000. Vima LLC bought a new position in Boeing during the fourth quarter worth $34,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of NYSE:BA traded down $8.36 during midday trading on Friday, reaching $169.95. The company had a trading volume of 11,742,812 shares, compared to its average volume of 6,374,948. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The firm has a market cap of $104.72 billion, a price-to-earnings ratio of -47.87 and a beta of 1.56. The company has a fifty day simple moving average of $181.87 and a two-hundred day simple moving average of $187.37.

Boeing (NYSE:BA) last released 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 during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the business earned ($0.82) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Analysts expect that The Boeing Company will post -2.38 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BA shares. Susquehanna raised their target price on Boeing from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Thursday. UBS Group cut their target price on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Northcoast Research cut Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. 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. According to MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $215.65.

Boeing Company 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.