HCR Wealth Advisors Sells 610 Shares of The Boeing Company (NYSE:BA)

HCR Wealth Advisors lowered its stake in shares of The Boeing Company (NYSE:BA) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,460 shares of the aircraft producer’s stock after selling 610 shares during the quarter. HCR Wealth Advisors’ holdings in Boeing were worth $3,542,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC bought a new position in shares of Boeing during the 4th quarter worth $26,000. Vima LLC bought a new position in shares of Boeing during the 4th quarter worth $34,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter worth $34,000. McClarren Financial Advisors Inc. grew its position in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Finally, Bfsg LLC bought a new position in shares of Boeing during the 1st quarter worth $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA stock opened at $157.62 on Monday. The Boeing Company has a 52 week low of $156.70 and a 52 week high of $267.54. The firm has a 50-day simple moving average of $176.53 and a 200-day simple moving average of $180.50.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) earnings per share. On average, analysts predict that The Boeing Company will post -4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BA. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Robert W. Baird decreased their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Bank of America upped their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned 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 “Moderate Buy” and an average target price of $211.29.

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.