Wealthspire Advisors LLC Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Wealthspire Advisors LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,564 shares of the aircraft producer’s stock after selling 541 shares during the period. Wealthspire Advisors LLC’s holdings in Boeing were worth $2,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BA. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Boeing in the fourth quarter valued at $26,000. Vima LLC bought a new position in Boeing during the 4th quarter valued at about $34,000. Accent Capital Management LLC purchased a new stake in Boeing in the 4th quarter worth about $39,000. Frank Rimerman Advisors LLC bought a new stake in Boeing in the fourth quarter worth about $48,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Boeing during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BA shares. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein decreased their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. UBS Group cut their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Baird R W raised shares of Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Trading Down 3.7 %

BA opened at $156.77 on Friday. The firm has a market cap of $96.60 billion, a price-to-earnings ratio of -44.16 and a beta of 1.57. The Boeing Company has a 12 month low of $155.60 and a 12 month high of $267.54. The stock has a fifty day moving average price of $174.10 and a 200-day moving average price of $179.23.

Boeing (NYSE:BA) last released its quarterly 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 analyst estimates of $17.35 billion. During the same period last year, the firm posted ($0.82) earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that The Boeing Company will post -4.26 EPS for the current 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.