Reston Wealth Management LLC Takes Position in The Boeing Company (NYSE:BA)

Reston Wealth Management LLC bought a new stake in The Boeing Company (NYSE:BA) in the third quarter, Holdings Channel reports. The institutional investor bought 700 shares of the aircraft producer’s stock, valued at approximately $106,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hobbs Group Advisors LLC purchased a new position in Boeing during the second quarter worth about $34,000. McClarren Financial Advisors Inc. raised its holdings in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the second quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing during the second quarter worth about $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of BA stock opened at $149.29 on Friday. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54. The firm has a market capitalization of $92.29 billion, a P/E ratio of -11.57 and a beta of 1.57. The company’s fifty day moving average price is $157.86 and its two-hundred day moving average price is $171.09.

Boeing (NYSE:BA) last issued 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 for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BA. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $195.00 to $169.00 in a report on Wednesday. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.42.

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.