The Boeing Company (NYSE:BA) Holdings Cut by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC lowered its holdings in shares of The Boeing Company (NYSE:BA) by 22.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232 shares of the aircraft producer’s stock after selling 66 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Boeing were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BA. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the second quarter valued at about $34,000. McClarren Financial Advisors Inc. increased its stake in shares of Boeing by 451.4% in 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 during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Boeing by 351.1% during the 2nd 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 during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on BA shares. JPMorgan Chase & Co. cut their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus increased 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. Finally, Wells Fargo & Company reduced their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Performance

BA traded down $4.86 on Wednesday, reaching $155.02. The company had a trading volume of 8,770,537 shares, compared to its average volume of 8,083,505. The stock has a market cap of $95.16 billion, a P/E ratio of -43.82 and a beta of 1.57. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The company’s fifty day moving average is $160.84 and its 200 day moving average is $172.11.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.82) earnings per share. On average, sell-side analysts expect that The Boeing Company will post -5.35 EPS for the current year.

Boeing 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.