Sax Wealth Advisors LLC Buys Shares of 2,638 The Boeing Company (NYSE:BA)

Sax Wealth Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,638 shares of the aircraft producer’s stock, valued at approximately $467,000.

Several other institutional investors and hedge funds have also modified their holdings of BA. American Century Companies Inc. grew its holdings in shares of Boeing by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after purchasing an additional 7,739 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Boeing by 11.3% during the second quarter. Ieq Capital LLC now owns 29,154 shares of the aircraft producer’s stock worth $5,306,000 after buying an additional 2,956 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Boeing by 1.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 21,454 shares of the aircraft producer’s stock worth $3,905,000 after buying an additional 317 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of Boeing by 19.5% in the 2nd quarter. AE Wealth Management LLC now owns 16,402 shares of the aircraft producer’s stock valued at $2,985,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Boeing by 5.3% during the 2nd quarter. Pacer Advisors Inc. now owns 41,287 shares of the aircraft producer’s stock valued at $7,515,000 after acquiring an additional 2,066 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BA has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. UBS Group dropped their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Susquehanna decreased their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Citigroup cut their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Up 1.3 %

Boeing stock opened at $171.14 on Friday. The company has a market capitalization of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The firm’s fifty day moving average is $163.15 and its 200 day moving average is $164.89. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings data 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 the consensus estimate of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Sell-side analysts expect that The Boeing Company will post -16.43 EPS for the current fiscal 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.