Octavia Wealth Advisors LLC Has $593,000 Position in The Boeing Company (NYSE:BA)

Octavia Wealth Advisors LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,899 shares of the aircraft producer’s stock after selling 437 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Boeing were worth $593,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BA. Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after acquiring an additional 2,921,043 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BA. The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. TD Cowen decreased their price target on Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Jefferies Financial Group decreased their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their target price on Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Boeing Price Performance

BA opened at $151.02 on Friday. The business has a fifty day simple moving average of $162.41 and a 200 day simple moving average of $173.94. The company has a market capitalization of $93.05 billion, a PE ratio of -26.83 and a beta of 1.57. The Boeing Company has a 1 year low of $146.26 and a 1 year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.82) EPS. Equities analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.