Tradition Wealth Management LLC Grows Stake in The Boeing Company (NYSE:BA)

Tradition Wealth Management LLC lifted its stake in The Boeing Company (NYSE:BA) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,156 shares of the aircraft producer’s stock after purchasing an additional 370 shares during the quarter. Tradition Wealth Management LLC’s holdings in Boeing were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter worth about $34,000. RPg Family Wealth Advisory LLC bought a new position in Boeing in the 3rd quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the 2nd quarter valued at $33,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter worth $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BA shares. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a research note on Thursday, October 24th. Finally, Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Up 2.0 %

NYSE BA opened at $155.44 on Monday. The business has a 50-day moving average price of $151.48 and a 200-day moving average price of $167.35. The firm has a market cap of $96.09 billion, a price-to-earnings ratio of -12.05 and a beta of 1.57. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts expect that The Boeing Company will post -16.19 EPS for the current fiscal year.

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.