The Boeing Company (NYSE:BA) Position Trimmed by GM Advisory Group LLC

GM Advisory Group LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 18.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,441 shares of the aircraft producer’s stock after selling 767 shares during the period. GM Advisory Group LLC’s holdings in Boeing were worth $523,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $33,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter valued at approximately $30,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 4.1 %

Shares of BA stock opened at $149.27 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The firm has a market cap of $92.28 billion, a PE ratio of -11.57 and a beta of 1.57. The stock has a 50 day moving average of $151.70 and a 200-day moving average of $168.42.

Boeing (NYSE:BA) last issued its quarterly 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 firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. The firm’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. As a group, equities analysts predict that The Boeing Company will post -16.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on BA. 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 research note on Thursday, October 24th. Stifel Nicolaus boosted their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing presently has an average rating of “Hold” and an average target price of $190.37.

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.