Lodestone Wealth Management LLC Cuts Stake in The Boeing Company (NYSE:BA)

Lodestone Wealth Management LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,947 shares of the aircraft producer’s stock after selling 482 shares during the period. Lodestone Wealth Management LLC’s holdings in Boeing were worth $448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BA. Madison Park Capital Advisors LLC boosted its holdings in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after acquiring an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its position in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the last quarter. Angeles Wealth Management LLC increased its stake in Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares in the last quarter. IMS Capital Management raised its holdings in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Boeing by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 3.5 %

Shares of BA stock opened at $154.59 on Friday. The company has a market capitalization of $95.57 billion, a P/E ratio of -11.98 and a beta of 1.57. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54. The business’s 50 day moving average is $157.46 and its two-hundred day moving average is $171.00.

Boeing (NYSE:BA) last released 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 analysts’ expectations of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.26) earnings per share. On average, research analysts predict that The Boeing Company will post -16.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BA shares. Jefferies Financial Group cut their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Finally, Citigroup decreased their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Three equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus target price 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.