Summit Financial Wealth Advisors LLC Acquires 300 Shares of The Boeing Company (NYSE:BA)

Summit Financial Wealth Advisors LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 13.4% during the third quarter, HoldingsChannel reports. The firm owned 2,538 shares of the aircraft producer’s stock after purchasing an additional 300 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Boeing were worth $386,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cedar Wealth Management LLC bought a new position in Boeing in the third quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the second quarter valued at about $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter worth $39,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group decreased 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. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company lowered their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, UBS Group cut their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.11.

Boeing Trading Up 2.5 %

NYSE BA opened at $153.08 on Tuesday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The stock has a 50-day moving average of $151.65 and a 200 day moving average of $168.08. The stock has a market capitalization of $94.63 billion, a price-to-earnings ratio of -11.87 and a beta of 1.57.

Boeing (NYSE:BA) last announced its 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 firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) EPS. Equities analysts predict that The Boeing Company will post -16.2 EPS for the current fiscal year.

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.