The Boeing Company (NYSE:BA) Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC lessened its position in shares of The Boeing Company (NYSE:BA) by 70.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 497 shares of the aircraft producer’s stock after selling 1,166 shares during the period. Fortis Group Advisors LLC’s holdings in Boeing were worth $76,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC increased its stake in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after buying an additional 56 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its stake in shares of Boeing by 1.6% in the second 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. Angeles Wealth Management LLC increased its stake in shares of Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after buying an additional 61 shares during the last quarter. IMS Capital Management increased its stake in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 0.0 %

BA opened at $159.85 on Wednesday. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The stock has a market cap of $98.13 billion, a PE ratio of -45.03 and a beta of 1.57. The business’s 50 day moving average is $160.84 and its 200-day moving average is $172.11.

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 company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the company earned ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group decreased 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. Wells Fargo & Company decreased their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.79.

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.