Avestar Capital LLC Has $309,000 Stock Position in The Boeing Company (NYSE:BA)

Avestar Capital LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,033 shares of the aircraft producer’s stock after selling 349 shares during the quarter. Avestar Capital LLC’s holdings in Boeing were worth $309,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during 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 purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 worth $1,386,757,000 after buying an additional 106,513 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after buying an additional 277,350 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

NYSE BA opened at $152.42 on Thursday. The business has a 50 day simple moving average of $151.48 and a 200 day simple moving average of $167.77. The Boeing Company has a one year low of $137.03 and a one year high of $267.54. The stock has a market capitalization of $94.23 billion, a P/E ratio of -11.82 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the business earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -16.2 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $190.11.

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.