Roffman Miller Associates Inc. PA Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Roffman Miller Associates Inc. PA trimmed its holdings in The Boeing Company (NYSE:BA) by 9.4% during the third quarter, Holdings Channel.com reports. The fund owned 60,534 shares of the aircraft producer’s stock after selling 6,270 shares during the period. Roffman Miller Associates Inc. PA’s holdings in Boeing were worth $9,204,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing in the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC acquired a new stake in Boeing during the second quarter worth approximately $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BA shares. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Morgan Stanley lowered their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Citigroup cut their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Finally, TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $190.11.

Boeing Trading Down 1.7 %

NYSE BA opened at $153.93 on Monday. The stock has a market cap of $95.16 billion, a P/E ratio of -11.93 and a beta of 1.56. The company’s fifty day simple moving average is $151.58 and its 200-day simple moving average is $166.32. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54.

Boeing (NYSE:BA) last issued its quarterly 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 for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted ($3.26) EPS. On average, research analysts expect that The Boeing Company will post -16.18 EPS 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.