The Boeing Company (NYSE:BA) Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its holdings in shares of The Boeing Company (NYSE:BA) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,240 shares of the aircraft producer’s stock after selling 740 shares during the quarter. Ritholtz Wealth Management’s holdings in Boeing were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Lazari Capital Management Inc. lifted its stake in Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after acquiring an additional 8,309 shares during the last quarter. Sanders Morris Harris LLC lifted its stake in shares of Boeing by 869.1% in the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the last quarter. Czech National Bank boosted its holdings in Boeing by 8.4% in the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after purchasing an additional 9,281 shares in the last quarter. Park Avenue Securities LLC increased its position in Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after buying an additional 1,805 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd bought a new position in Boeing during the third quarter valued at about $11,237,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of NYSE:BA opened at $149.10 on Tuesday. The company’s fifty day moving average is $162.05 and its 200-day moving average is $173.41. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a market capitalization of $91.53 billion, a PE ratio of -42.00 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) 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 the consensus estimate of $17.35 billion. During the same quarter in the prior year, the company posted ($0.82) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on BA. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Sanford C. Bernstein dropped their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group reduced their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Susquehanna reaffirmed a “positive” rating and set a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Finally, TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and an average target price of $204.56.

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.