626 Financial LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

626 Financial LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 31.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the aircraft producer’s stock after selling 606 shares during the period. 626 Financial LLC’s holdings in Boeing were worth $235,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BA. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing in the third quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the second quarter valued at approximately $33,000. Cedar Wealth Management LLC acquired a new position in Boeing in the third quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new position in Boeing in the second quarter valued at approximately $59,000. Finally, Planning Capital Management Corp lifted its holdings in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 289 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on BA shares. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. TD Cowen dropped their target price 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 reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. UBS Group decreased their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup decreased their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Performance

Shares of Boeing stock opened at $167.17 on Wednesday. The firm has a market cap of $103.34 billion, a P/E ratio of -12.96 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59. The firm’s 50-day simple moving average is $162.02 and its 200-day simple moving average is $164.97.

Boeing (NYSE:BA) last announced 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 business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($3.26) earnings per share. On average, equities analysts forecast that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

Boeing 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.