Wedmont Private Capital Decreases Holdings in The Boeing Company (NYSE:BA)

Wedmont Private Capital trimmed its holdings in shares of The Boeing Company (NYSE:BA) by 10.6% in the third quarter, Holdings Channel reports. The firm owned 4,569 shares of the aircraft producer’s stock after selling 541 shares during the period. Wedmont Private Capital’s holdings in Boeing were worth $712,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BA. Wellington Management Group LLP lifted its holdings in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after buying an additional 2,921,043 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Boeing in the 1st quarter valued at about $272,312,000. Vanguard Group Inc. raised its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock valued at $186,759,000 after purchasing an additional 1,015,542 shares in the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 3.0 %

NYSE BA opened at $151.05 on Friday. The Boeing Company has a 52 week low of $146.26 and a 52 week high of $267.54. The stock has a market cap of $93.07 billion, a price-to-earnings ratio of -26.83 and a beta of 1.57. The company has a 50-day moving average price of $162.41 and a two-hundred day moving average price of $173.94.

Boeing (NYSE:BA) last posted its 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 business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the business posted ($0.82) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the topic of a number of recent analyst reports. Sanford C. Bernstein cut their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Wells Fargo & Company cut their target price on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. Stifel Nicolaus upped 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, Jefferies Financial Group cut their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

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.