Pure Financial Advisors LLC Sells 1,697 Shares of The Boeing Company (NYSE:BA)

Pure Financial Advisors LLC decreased its stake in shares of The Boeing Company (NYSE:BA) by 20.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,593 shares of the aircraft producer’s stock after selling 1,697 shares during the period. Pure Financial Advisors LLC’s holdings in Boeing were worth $1,167,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in shares of Boeing by 54.2% during the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after buying an additional 2,943 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA opened at $175.63 on Wednesday. The company has a fifty day moving average of $163.59 and a two-hundred day moving average of $164.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The stock has a market capitalization of $108.58 billion, a price-to-earnings ratio of -13.61 and a beta of 1.52.

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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm earned ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that The Boeing Company will post -16.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird cut their target price on shares of 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 reduced their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, Morgan Stanley decreased their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.21.

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.