Resonant Capital Advisors LLC Has $756,000 Stock Position in The Boeing Company (NYSE:BA)

Resonant Capital Advisors LLC lessened its stake in The Boeing Company (NYSE:BA) by 23.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,152 shares of the aircraft producer’s stock after selling 1,242 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Boeing were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Crestwood Advisors Group LLC raised its position in shares of Boeing by 4.5% during the second quarter. Crestwood Advisors Group LLC now owns 3,135 shares of the aircraft producer’s stock worth $571,000 after acquiring an additional 135 shares during the last quarter. Financial Counselors Inc. increased its position in Boeing by 1.1% in the second quarter. Financial Counselors Inc. now owns 14,762 shares of the aircraft producer’s stock worth $2,687,000 after purchasing an additional 156 shares during the period. Cravens & Co Advisors LLC raised its holdings in Boeing by 21.5% during the 2nd quarter. Cravens & Co Advisors LLC now owns 6,417 shares of the aircraft producer’s stock worth $1,168,000 after purchasing an additional 1,135 shares during the last quarter. Natixis Advisors LLC lifted its position in Boeing by 7.6% during the 2nd quarter. Natixis Advisors LLC now owns 1,392,828 shares of the aircraft producer’s stock valued at $253,509,000 after purchasing an additional 98,926 shares during the period. Finally, Hudson Canyon Capital Management boosted its stake in shares of Boeing by 7.4% in the 2nd quarter. Hudson Canyon Capital Management now owns 9,230 shares of the aircraft producer’s stock valued at $1,680,000 after purchasing an additional 638 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Wells Fargo & Company cut their price target on Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.18.

Boeing Price Performance

Boeing stock opened at $173.74 on Tuesday. The firm has a 50-day moving average of $178.02 and a 200-day moving average of $181.69. The company has a market cap of $106.66 billion, a price-to-earnings ratio of -48.94 and a beta of 1.56. The Boeing Company has a one year low of $159.70 and a one year high of $267.54.

Boeing (NYSE:BA) last posted its quarterly 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 business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the business earned ($0.82) earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -4.26 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.