Wealth Effects LLC Has $1.67 Million Stake in The Boeing Company (NYSE:BA)

Wealth Effects LLC cut its position in shares of The Boeing Company (NYSE:BA) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,456 shares of the aircraft producer’s stock after selling 1,716 shares during the quarter. Wealth Effects LLC’s holdings in Boeing were worth $1,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing during the 3rd quarter worth about $28,000. Cedar Wealth Management LLC bought a new position in shares of Boeing in the 3rd quarter valued at about $30,000. Albion Financial Group UT increased its position in shares of Boeing by 116.1% in the fourth quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock valued at $52,000 after acquiring an additional 159 shares during the last quarter. Finally, Planning Capital Management Corp raised its holdings in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent analyst reports. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Citigroup dropped their price target on shares of Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group cut 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.11.

Boeing Price Performance

Shares of NYSE:BA opened at $175.09 on Tuesday. The Boeing Company has a one year low of $137.03 and a one year high of $214.63. The firm has a 50 day simple moving average of $166.42 and a 200 day simple moving average of $164.29.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the company posted ($0.47) earnings per share. Sell-side analysts forecast that The Boeing Company will post -16.39 EPS for the current fiscal 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.