Cetera Investment Advisers Sells 70,273 Shares of The Boeing Company (NYSE:BA)

Cetera Investment Advisers decreased its position in shares of The Boeing Company (NYSE:BA) by 23.5% in the 2nd quarter, Holdings Channel reports. The firm owned 228,744 shares of the aircraft producer’s stock after selling 70,273 shares during the quarter. Cetera Investment Advisers’ holdings in Boeing were worth $41,634,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BA. Chicago Partners Investment Group LLC boosted its holdings in Boeing by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after acquiring an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC boosted its holdings in Boeing by 4.9% during the 2nd quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after acquiring an additional 56 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of Boeing by 4.3% in the 4th quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Bridge Creek Capital Management LLC boosted its holdings in shares of Boeing by 3.1% in the 1st quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock worth $383,000 after buying an additional 60 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its holdings in shares of Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $154.24 on Wednesday. The firm has a market cap of $94.69 billion, a PE ratio of -43.45 and a beta of 1.57. The Boeing Company has a fifty-two week low of $149.49 and a fifty-two week high of $267.54. The business has a 50 day moving average price of $167.34 and a 200-day moving average price of $175.70.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) earnings per share. Research analysts predict that The Boeing Company will post -4.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BA shares. Stifel Nicolaus boosted 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. TD Cowen cut their price target on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America boosted their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein cut their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $207.67.

Boeing 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.