King Wealth Management Group Trims Stock Holdings in The Boeing Company (NYSE:BA)

by · The Markets Daily

King Wealth Management Group reduced its holdings in shares of The Boeing Company (NYSE:BA – Free Report) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,367 shares of the aircraft producer’s stock after selling 80 shares during the quarter. King Wealth Management Group’s holdings in Boeing were worth $208,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BA. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake 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 purchasing an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Boeing during the 2nd quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Boeing during the first quarter valued at approximately $53,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 1.3 %

Shares of BA stock opened at $138.13 on Friday. The Boeing Company has a 12 month low of $137.22 and a 12 month high of $267.54. The business’s 50 day moving average is $154.03 and its two-hundred day moving average is $169.89.

Boeing (NYSE:BA – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the company earned ($3.26) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Susquehanna lowered their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus target price of $190.37.

View Our Latest Analysis on Boeing

Boeing Profile

(Free Report)

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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