Absher Wealth Management LLC Has $14.83 Million Stock Holdings in The Boeing Company (NYSE:BA)

by · The Markets Daily

Absher Wealth Management LLC lifted its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,516 shares of the aircraft producer’s stock after purchasing an additional 2,789 shares during the quarter. Boeing comprises 1.9% of Absher Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Absher Wealth Management LLC’s holdings in Boeing were worth $14,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Lazari Capital Management Inc. boosted its stake in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Czech National Bank boosted its position in shares of Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after buying an additional 9,281 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in Boeing during the third quarter worth $11,237,000. Sanctuary Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at $21,405,000. Finally, Williams Financial LLC purchased a new position in Boeing during the 2nd quarter worth $1,637,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 2.1 %

Shares of BA traded up $3.17 during mid-day trading on Friday, reaching $152.48. 3,147,367 shares of the stock traded hands, compared to its average volume of 8,742,030. The company has a market cap of $94.26 billion, a price-to-earnings ratio of -11.57 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a fifty day moving average price of $157.86 and a 200 day moving average price of $171.09.

Boeing (NYSE:BA – Get Free Report) last released its quarterly 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 business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the firm posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Boeing Company will post -16.22 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $195.00 to $169.00 in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $190.42.

Get Our Latest Stock Analysis on BA

Boeing Company 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.

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