Encompass Wealth Advisors LLC Has $1.27 Million Position in The Boeing Company (NYSE:BA)

Encompass Wealth Advisors LLC trimmed its position in The Boeing Company (NYSE:BA) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,346 shares of the aircraft producer’s stock after selling 140 shares during the quarter. Encompass Wealth Advisors LLC’s holdings in Boeing were worth $1,269,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Hobbs Group Advisors LLC bought a new stake in shares of Boeing during the second quarter worth $34,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the 2nd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. grew its position in 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 acquiring an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Boeing in the 2nd quarter worth about $39,000. Finally, Pathway Financial Advisers LLC bought a new position in Boeing in the first quarter valued at about $53,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Susquehanna cut their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Finally, Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Stock Performance

BA stock opened at $145.17 on Wednesday. The stock’s 50 day simple moving average is $154.49 and its 200 day simple moving average is $170.11. The company has a market cap of $89.74 billion, a P/E ratio of -11.25 and a beta of 1.57. The Boeing Company has a fifty-two week low of $143.85 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts predict that The Boeing Company will post -16.09 earnings per share for the current year.

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.