Cedar Wealth Management LLC Takes $30,000 Position in The Boeing Company (NYSE:BA)

Cedar Wealth Management LLC acquired a new stake in The Boeing Company (NYSE:BA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 200 shares of the aircraft producer’s stock, valued at approximately $30,000.

Other institutional investors have also added to or reduced their stakes in the company. Pitcairn Co. grew its holdings in shares of Boeing by 25.1% during the 1st quarter. Pitcairn Co. now owns 2,645 shares of the aircraft producer’s stock valued at $510,000 after purchasing an additional 530 shares during the last quarter. MQS Management LLC acquired a new position in shares of Boeing during the first quarter worth $237,000. EntryPoint Capital LLC lifted its stake in shares of Boeing by 186.1% in the 1st quarter. EntryPoint Capital LLC now owns 638 shares of the aircraft producer’s stock valued at $123,000 after acquiring an additional 415 shares during the last quarter. Delap Wealth Advisory LLC acquired a new stake in shares of Boeing during the 1st quarter valued at $353,000. Finally, CreativeOne Wealth LLC grew its position in Boeing by 21.8% during the 1st quarter. CreativeOne Wealth LLC now owns 5,350 shares of the aircraft producer’s stock worth $1,033,000 after acquiring an additional 958 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 1.2 %

Shares of NYSE:BA opened at $145.58 on Wednesday. The firm has a market capitalization of $90.00 billion, a PE ratio of -11.29 and a beta of 1.57. The company has a 50-day moving average price of $152.53 and a two-hundred day moving average price of $168.95. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BA shares. 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 note on Monday, October 14th. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Susquehanna reduced their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company lowered their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.37.

Boeing Company 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.