BNC Wealth Management LLC Sells 615 Shares of The Boeing Company (NYSE:BA)

BNC Wealth Management LLC reduced its holdings in shares of The Boeing Company (NYSE:BA) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,612 shares of the aircraft producer’s stock after selling 615 shares during the quarter. BNC Wealth Management LLC’s holdings in Boeing were worth $701,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in shares of Boeing in the second quarter valued at $34,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% during the second 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. bought a new stake in shares of Boeing during the second quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Boeing in the first quarter valued at approximately $53,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

BA stock opened at $147.18 on Thursday. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of -11.41 and a beta of 1.57. The company has a 50 day simple moving average of $156.17 and a 200 day simple moving average of $170.60. The Boeing Company has a 1 year low of $144.13 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that The Boeing Company will post -16.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BA. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $190.37.

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.