Beverly Hills Private Wealth LLC Trims Stake in The Boeing Company (NYSE:BA)

Beverly Hills Private Wealth LLC lessened its holdings in shares of The Boeing Company (NYSE:BA) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,458 shares of the aircraft producer’s stock after selling 260 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Boeing were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing during the 4th quarter valued at approximately $26,000. Vima LLC bought a new position in Boeing during the fourth quarter valued at $34,000. Accent Capital Management LLC purchased a new position in shares of Boeing in the 4th quarter worth $39,000. Frank Rimerman Advisors LLC bought a new stake in shares of Boeing in the 4th quarter worth about $48,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at about $34,000. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 3.7 %

Shares of NYSE:BA opened at $156.77 on Friday. The company has a market capitalization of $96.60 billion, a price-to-earnings ratio of -44.16 and a beta of 1.57. The firm has a 50 day moving average of $174.10 and a 200 day moving average of $179.39. The Boeing Company has a 52 week low of $155.60 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 during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm posted ($0.82) earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis. On average, sell-side analysts expect that The Boeing Company will post -4.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. UBS Group dropped their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Bank of America raised their target price on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.29.

About Boeing

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.