Allworth Financial LP Lowers Stake in The Boeing Company (NYSE:BA)

Allworth Financial LP reduced its position in shares of The Boeing Company (NYSE:BA) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,365 shares of the aircraft producer’s stock after selling 284 shares during the quarter. Allworth Financial LP’s holdings in Boeing were worth $3,096,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BA. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the 2nd quarter valued at about $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Boeing stock opened at $155.01 on Monday. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm has a 50 day moving average price of $159.68 and a 200 day moving average price of $171.64. The company has a market capitalization of $95.16 billion, a PE ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the business earned ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the topic of a number of research reports. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday. Wells Fargo & Company cut their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Robert W. Baird cut their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.79.

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.