Crestwood Advisors Group LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Crestwood Advisors Group LLC raised its stake in shares of The Boeing Company (NYSE:BA) by 4.5% in the second quarter, Holdings Channel reports. The institutional investor owned 3,135 shares of the aircraft producer’s stock after buying an additional 135 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Boeing were worth $571,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter worth about $26,000. Vima LLC purchased a new position in shares of Boeing in the 4th quarter worth $34,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter valued at $34,000. McClarren Financial Advisors Inc. lifted its holdings in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the period. Finally, Bfsg LLC bought a new stake in shares of Boeing during the 1st quarter valued at about $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on BA. Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Sanford C. Bernstein reduced their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 target price (down from $185.00) on shares of Boeing in a research report on Tuesday. Bank of America upped their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Finally, UBS Group lowered their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Stock Down 7.3 %

Boeing stock opened at $161.02 on Wednesday. The company’s 50-day moving average price is $177.74 and its 200-day moving average price is $181.39. The company has a market cap of $98.85 billion, a PE ratio of -45.36 and a beta of 1.56. The Boeing Company has a twelve month low of $158.30 and a twelve month high of $267.54.

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