Financial Advocates Investment Management boosted its holdings in The Boeing Company (NYSE:BA – Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,067 shares of the aircraft producer’s stock after purchasing an additional 1,184 shares during the quarter. Financial Advocates Investment Management’s holdings in Boeing were worth $4,571,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Madison Park Capital Advisors LLC grew its stake in shares of Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC grew its stake in shares of Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares during the period. Angeles Wealth Management LLC grew its stake in shares of 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 acquiring an additional 61 shares during the period. IMS Capital Management grew its stake in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in shares of Boeing by 0.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.
Wall Street Analyst Weigh In
BA has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company cut their price objective on Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and an average price target of $190.42.
Boeing Price Performance
Shares of BA opened at $154.24 on Thursday. The business’s 50 day simple moving average is $158.34 and its 200-day simple moving average is $171.24. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a market capitalization of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57.
Boeing (NYSE:BA – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm earned ($3.26) EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts expect that The Boeing Company will post -5.35 earnings per share for the current 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.
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