The Boeing Company (NYSE:BA) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. lowered its stake in shares of The Boeing Company (NYSE:BA) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,459 shares of the aircraft producer’s stock after selling 153 shares during the quarter. Heritage Wealth Management Inc.’s holdings in Boeing were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BA. Vanguard Group Inc. lifted its position in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC grew its position in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares in the last quarter. Legal & General Group Plc boosted its holdings in Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 0.3 %

NYSE BA traded up $0.46 on Friday, reaching $151.44. 680,067 shares of the stock traded hands, compared to its average volume of 8,967,433. The Boeing Company has a 12 month low of $144.13 and a 12 month high of $267.54. The firm’s fifty day simple moving average is $156.17 and its 200 day simple moving average is $170.60. The company has a market cap of $93.62 billion, a price-to-earnings ratio of -11.70 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the firm posted ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -16.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BA. Wells Fargo & Company lowered their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.37.

Boeing 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.