Hudson Valley Investment Advisors Inc. ADV Cuts Holdings in The Boeing Company (NYSE:BA)

Hudson Valley Investment Advisors Inc. ADV lowered its stake in shares of The Boeing Company (NYSE:BA) by 50.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,412 shares of the aircraft producer’s stock after selling 3,473 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Boeing were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Lazari Capital Management Inc. grew its position in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares during the last quarter. Czech National Bank boosted its stake in shares of Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares in the last quarter. BSN CAPITAL PARTNERS Ltd bought a new position in shares of Boeing during the 3rd quarter valued at $11,237,000. Sanctuary Advisors LLC purchased a new position in Boeing in the 2nd quarter worth $21,405,000. Finally, Williams Financial LLC bought a new stake in Boeing in the second quarter worth $1,637,000. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of Boeing stock opened at $149.29 on Friday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a market cap of $91.65 billion, a price-to-earnings ratio of -42.05 and a beta of 1.57. The company has a 50-day moving average of $157.86 and a 200 day moving average of $171.09.

Boeing (NYSE:BA) last announced its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. Susquehanna reduced their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $195.00 to $169.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Jefferies Financial Group decreased their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus price target of $190.42.

Boeing Company 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.