The Boeing Company (NYSE:BA) Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC reduced its position in The Boeing Company (NYSE:BA) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,508 shares of the aircraft producer’s stock after selling 170 shares during the period. Soltis Investment Advisors LLC’s holdings in Boeing were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter worth $34,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the 2nd quarter worth $33,000. Cedar Wealth Management LLC purchased a new position in Boeing during the third quarter worth about $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Susquehanna dropped 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. Robert W. Baird cut their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company decreased their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Sanford C. Bernstein downgraded 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, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Performance

Boeing stock opened at $164.20 on Wednesday. The stock has a 50-day simple moving average of $151.69 and a 200-day simple moving average of $166.22. The company has a market capitalization of $101.51 billion, a P/E ratio of -12.73 and a beta of 1.56. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $267.54.

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 for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, analysts forecast that The Boeing Company will post -16.18 earnings per share for the current year.

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.