Ignite Planners LLC Lowers Holdings in The Boeing Company (NYSE:BA)

Ignite Planners LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,838 shares of the aircraft producer’s stock after selling 411 shares during the quarter. Ignite Planners LLC’s holdings in Boeing were worth $2,691,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in Boeing in the 3rd quarter worth about $28,000. Cedar Wealth Management LLC acquired a new position in shares of Boeing during the 3rd quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the 2nd quarter valued at $33,000. Planning Capital Management Corp increased its holdings in Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in Boeing during the third quarter worth $58,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Performance

BA opened at $170.56 on Tuesday. The business’s 50 day moving average price is $161.70 and its 200 day moving average price is $165.07. The stock has a market capitalization of $105.44 billion, a PE ratio of -13.22 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.26) EPS. As a group, equities research analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal 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.