The Boeing Company (NYSE:BA) Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC lowered its holdings in The Boeing Company (NYSE:BA) by 70.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 497 shares of the aircraft producer’s stock after selling 1,166 shares during the quarter. Fortis Group Advisors LLC’s holdings in Boeing were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the second quarter worth $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. boosted its holdings in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing during the second quarter worth $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $159.85 on Wednesday. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54. The firm’s 50-day moving average is $160.84 and its two-hundred day moving average is $172.11. The company has a market capitalization of $98.13 billion, a PE ratio of -45.03 and a beta of 1.57.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. DZ Bank downgraded shares of 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. Finally, TD Cowen decreased their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus target price of $198.79.

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.