Asset Dedication LLC Decreases Stake in The Boeing Company (NYSE:BA)

Asset Dedication LLC cut its position in The Boeing Company (NYSE:BA) by 30.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,853 shares of the aircraft producer’s stock after selling 4,776 shares during the period. Asset Dedication LLC’s holdings in Boeing were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

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

Boeing Trading Up 1.6 %

Shares of NYSE BA opened at $154.86 on Thursday. The stock has a market cap of $95.07 billion, a price-to-earnings ratio of -43.62 and a beta of 1.57. The company’s 50-day moving average price is $161.63 and its 200 day moving average price is $173.00. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm 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 was down 14.6% on a year-over-year basis. As a group, research analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BA shares. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price target on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

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.