Global Wealth Strategies & Associates Sells 311 Shares of The Boeing Company (NYSE:BA)

Global Wealth Strategies & Associates trimmed its holdings in The Boeing Company (NYSE:BA) by 63.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 180 shares of the aircraft producer’s stock after selling 311 shares during the period. Global Wealth Strategies & Associates’ holdings in Boeing were worth $27,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazari Capital Management Inc. lifted its holdings in shares of Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after buying an additional 8,309 shares during the period. Sanders Morris Harris LLC lifted its holdings in Boeing by 869.1% in the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after acquiring an additional 20,425 shares during the period. Park Avenue Securities LLC boosted its position in Boeing by 20.7% in the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after purchasing an additional 1,805 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at about $1,637,000. Finally, Kimelman & Baird LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $80,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $152.89 on Thursday. The Boeing Company has a fifty-two week low of $149.49 and a fifty-two week high of $267.54. The company’s fifty day moving average is $166.80 and its 200 day moving average is $175.54. The stock has a market capitalization of $93.86 billion, a PE ratio of -43.07 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) 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 analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm earned ($0.82) earnings per share. As a group, research analysts forecast that The Boeing Company will post -4.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. TD Cowen cut their price objective on shares of Boeing from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Bank of America boosted their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, Sanford C. Bernstein lowered their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.