Wealth Alliance Cuts Stock Position in The Boeing Company (NYSE:BA)

Wealth Alliance cut its position in shares of The Boeing Company (NYSE:BA) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,488 shares of the aircraft producer’s stock after selling 226 shares during the quarter. Wealth Alliance’s holdings in Boeing were worth $271,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital Research Global Investors grew its stake in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its position in Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Boeing in the 1st quarter worth approximately $272,312,000. Finally, Vanguard Group Inc. lifted its position in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

BA stock opened at $153.29 on Friday. The firm has a 50 day moving average price of $171.21 and a 200-day moving average price of $177.74. The Boeing Company has a 52-week low of $152.60 and a 52-week high of $267.54. The firm has a market capitalization of $94.10 billion, a price-to-earnings ratio of -43.18 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the firm earned ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of analyst reports. UBS Group dropped their price objective on 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 reissued an “underweight” rating and set a $119.00 price target (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Finally, Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.