Stratos Wealth Advisors LLC Trims Stake in The Boeing Company (NYSE:BA)

Stratos Wealth Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 8.7% in the third quarter, Holdings Channel reports. The firm owned 7,289 shares of the aircraft producer’s stock after selling 693 shares during the period. Stratos Wealth Advisors LLC’s holdings in Boeing were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter worth $34,000. McClarren Financial Advisors Inc. grew its position in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the second quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter worth $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BA shares. TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. cut their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, October 14th. Susquehanna cut their price target on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group cut their price target 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.79.

Boeing Stock Performance

Shares of BA opened at $155.00 on Monday. The stock has a market cap of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm’s 50-day simple moving average is $161.10 and its two-hundred day simple moving average is $172.44.

Boeing (NYSE:BA) last posted its quarterly earnings results 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 firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the firm posted ($0.82) EPS. The firm’s revenue was down 14.6% on a year-over-year basis. Equities research analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Boeing Company 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.