The Boeing Company (NYSE:BA) Stock Holdings Trimmed by Independent Advisor Alliance

by · The Markets Daily

Independent Advisor Alliance lowered its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,888 shares of the aircraft producer’s stock after selling 462 shares during the period. Independent Advisor Alliance’s holdings in Boeing were worth $2,264,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BA. Waverly Advisors LLC raised its stake in Boeing by 37.2% during the 1st quarter. Waverly Advisors LLC now owns 11,649 shares of the aircraft producer’s stock valued at $2,248,000 after acquiring an additional 3,160 shares in the last quarter. Janus Henderson Group PLC raised its stake in Boeing by 21.3% during the 1st quarter. Janus Henderson Group PLC now owns 93,046 shares of the aircraft producer’s stock valued at $17,948,000 after acquiring an additional 16,342 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Boeing by 6.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,092 shares of the aircraft producer’s stock valued at $7,877,000 after acquiring an additional 2,557 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Boeing by 22.1% in the 1st quarter. Tidal Investments LLC now owns 36,178 shares of the aircraft producer’s stock worth $6,973,000 after buying an additional 6,559 shares in the last quarter. Finally, Beacon Capital Management LLC raised its stake in shares of Boeing by 4.8% in the 1st quarter. Beacon Capital Management LLC now owns 2,393 shares of the aircraft producer’s stock worth $462,000 after buying an additional 110 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 2.5 %

Shares of BA stock opened at $153.08 on Tuesday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The company has a market capitalization of $94.63 billion, a price-to-earnings ratio of -11.87 and a beta of 1.57. The stock’s fifty day simple moving average is $151.65 and its 200-day simple moving average is $168.08.

Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that The Boeing Company will post -16.2 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of research reports. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. UBS Group dropped their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Citigroup dropped their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Hold” and a consensus target price of $190.11.

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About Boeing

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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.

Further Reading

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