Edge Financial Advisors LLC Takes Position in The Boeing Company (NYSE:BA)

Edge Financial Advisors LLC bought a new stake in The Boeing Company (NYSE:BA) during the third quarter, Holdings Channel.com reports. The fund bought 1,739 shares of the aircraft producer’s stock, valued at approximately $264,000.

Several other institutional investors also recently added to or reduced their stakes in BA. Madison Park Capital Advisors LLC increased its stake in shares of Boeing by 4.9% in the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC raised its stake in shares of Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares during the period. Angeles Wealth Management LLC lifted its position in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after buying an additional 61 shares in the last quarter. IMS Capital Management grew its stake in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in Boeing by 0.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after acquiring an additional 65 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Citigroup lowered their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $190.42.

Boeing Stock Performance

BA stock traded up $1.97 during mid-day trading on Wednesday, reaching $154.95. 5,281,213 shares of the stock traded hands, compared to its average volume of 8,453,895. The business has a 50-day moving average price of $158.72 and a two-hundred day moving average price of $171.36. The stock has a market capitalization of $95.12 billion, a PE ratio of -43.09 and a beta of 1.57. The Boeing Company has a one year low of $146.02 and a one year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.