The Boeing Company (NYSE:BA) Shares Sold by Wealthspire Advisors LLC

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

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the period. Capital Research Global Investors increased its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Boeing by 1.1% during the fourth quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares during the period. Finally, Jennison Associates LLC boosted its position in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. UBS Group reduced their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Stifel Nicolaus upped their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Finally, Robert W. Baird lowered their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Three equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Performance

NYSE:BA opened at $156.77 on Friday. The stock has a market capitalization of $96.60 billion, a PE ratio of -44.16 and a beta of 1.57. The Boeing Company has a fifty-two week low of $155.60 and a fifty-two week high of $267.54. The company has a fifty day moving average of $174.10 and a two-hundred day moving average of $179.23.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.82) EPS. Research analysts forecast that The Boeing Company will post -4.26 earnings per share for the current year.

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.