Onyx Bridge Wealth Group LLC Decreases Stock Position in The Boeing Company (NYSE:BA)

Onyx Bridge Wealth Group LLC cut its holdings in The Boeing Company (NYSE:BA) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,490 shares of the aircraft producer’s stock after selling 350 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Boeing were worth $835,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BA. Virtu Financial LLC acquired a new position in Boeing in the 4th quarter valued at about $376,000. Massmutual Trust Co. FSB ADV raised its stake in Boeing by 13.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,518 shares of the aircraft producer’s stock valued at $486,000 after purchasing an additional 297 shares during the last quarter. Apella Capital LLC raised its stake in Boeing by 9.3% in the 1st quarter. Apella Capital LLC now owns 7,431 shares of the aircraft producer’s stock valued at $1,324,000 after purchasing an additional 631 shares during the last quarter. Park Avenue Securities LLC raised its stake in Boeing by 20.7% in the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Midwest Financial Group LLC raised its stake in Boeing by 3.7% in the 1st quarter. Midwest Financial Group LLC now owns 8,420 shares of the aircraft producer’s stock valued at $1,625,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $155.31 on Friday. The company’s 50 day moving average price is $161.36 and its 200 day moving average price is $172.88. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a market capitalization of $95.34 billion, a PE ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS 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. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, equities analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BA. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Susquehanna dropped their target price on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Thursday. Finally, TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.79.

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.