Cape Investment Advisory Inc. Sells 123 Shares of The Boeing Company (NYSE:BA)

Cape Investment Advisory Inc. trimmed its position in shares of The Boeing Company (NYSE:BA) by 16.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 615 shares of the aircraft producer’s stock after selling 123 shares during the period. Cape Investment Advisory Inc.’s holdings in Boeing were worth $119,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SouthState Corp raised its holdings in Boeing by 2.7% during the fourth quarter. SouthState Corp now owns 1,891 shares of the aircraft producer’s stock worth $493,000 after purchasing an additional 50 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Boeing by 2.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock valued at $661,000 after buying an additional 50 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 50 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Boeing by 1.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,077 shares of the aircraft producer’s stock worth $802,000 after acquiring an additional 52 shares during the period. Finally, Davis R M Inc. grew its stake in shares of Boeing by 1.8% during the 4th quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock worth $767,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BA. Sanford C. Bernstein reduced their target price on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. StockNews.com cut shares of Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 price target on shares of Boeing in a research report on Tuesday, June 25th. JPMorgan Chase & Co. lowered their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Wells Fargo & Company decreased their target price on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $215.65.

Boeing Trading Down 4.7 %

Shares of BA stock traded down $8.36 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 company has a 50-day moving average of $181.87 and a 200-day moving average of $187.28. The stock has a market cap of $104.72 billion, a PE ratio of -47.87 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 for the quarter, missing analysts’ consensus estimates 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. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -2.38 earnings per share for the current year.

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.