Providence Wealth Advisors LLC Sells 211 Shares of The Boeing Company (NYSE:BA)

Providence Wealth Advisors LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 11.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,705 shares of the aircraft producer’s stock after selling 211 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Boeing were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Newport Trust Company LLC boosted its stake in Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Boeing by 1.4% during the second 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 period. Jennison Associates LLC boosted its stake in Boeing by 9.9% during the third 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 period. Fisher Asset Management LLC boosted its stake in Boeing by 6.0% during the third 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 period. Finally, Legal & General Group Plc boosted its stake in Boeing by 2.0% during the second 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 period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. 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 decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Susquehanna decreased their target price on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Stock Performance

Shares of Boeing stock opened at $152.40 on Friday. The company has a market capitalization of $94.21 billion, a PE ratio of -11.81 and a beta of 1.57. The company has a 50-day simple moving average of $151.44 and a two-hundred day simple moving average of $167.67. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last announced its earnings results 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 for the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) EPS. On average, equities analysts predict that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

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.