Lifeworks Advisors LLC Decreases Stake in The Boeing Company (NYSE:BA)

Lifeworks Advisors LLC lowered its position in The Boeing Company (NYSE:BA) by 27.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,096 shares of the aircraft producer’s stock after selling 799 shares during the quarter. Lifeworks Advisors LLC’s holdings in Boeing were worth $319,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing in the 2nd quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter worth about $34,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Boeing by 351.1% in 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. purchased a new stake in Boeing in the 2nd quarter worth about $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Boeing in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $138.13 on Friday. The business has a 50 day moving average of $154.03 and a 200 day moving average of $169.89. The company has a market capitalization of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The Boeing Company has a 1-year low of $137.22 and a 1-year high of $267.54.

Boeing (NYSE:BA) last released 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. As a group, sell-side analysts anticipate that The Boeing Company will post -16.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BA. Susquehanna reduced their target price 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 reduced 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. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, October 15th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. reduced their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.