Advisory Services Network LLC Trims Stake in The Boeing Company (NYSE:BA)

Advisory Services Network LLC reduced its position in shares of The Boeing Company (NYSE:BAGet Rating) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,226 shares of the aircraft producer’s stock after selling 5,077 shares during the quarter. Advisory Services Network LLC’s holdings in Boeing were worth $4,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BA. Ingalls & Snyder LLC increased its holdings in Boeing by 4.4% during the 4th quarter. Ingalls & Snyder LLC now owns 3,559 shares of the aircraft producer’s stock worth $716,000 after purchasing an additional 150 shares during the period. Advisor Resource Council increased its holdings in shares of Boeing by 486.6% in the 4th quarter. Advisor Resource Council now owns 6,975 shares of the aircraft producer’s stock valued at $1,405,000 after acquiring an additional 5,786 shares during the period. Goelzer Investment Management Inc. increased its holdings in shares of Boeing by 3.9% in the 4th quarter. Goelzer Investment Management Inc. now owns 3,027 shares of the aircraft producer’s stock valued at $609,000 after acquiring an additional 114 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Boeing by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,751,506 shares of the aircraft producer’s stock valued at $553,934,000 after acquiring an additional 97,630 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in Boeing by 505.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,645 shares of the aircraft producer’s stock worth $2,344,000 after buying an additional 9,722 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and set a $281.00 target price on shares of Boeing in a research note on Tuesday, August 23rd. Citigroup upgraded Boeing from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $219.00 to $209.00 in a research note on Thursday, June 16th. Susquehanna dropped their target price on Boeing from $193.00 to $192.00 in a research note on Friday, May 20th. Robert W. Baird restated an “outperform” rating and set a $245.00 target price on shares of Boeing in a research note on Wednesday, September 7th. Finally, Susquehanna Bancshares dropped their target price on Boeing from $193.00 to $192.00 and set a “positive” rating on the stock in a research note on Friday, May 20th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.06.

Boeing Stock Up 0.3 %

Shares of BA stock opened at $149.78 on Friday. The stock has a market cap of $88.94 billion, a PE ratio of -16.74 and a beta of 1.35. The business has a 50-day simple moving average of $158.42 and a 200-day simple moving average of $157.95. The Boeing Company has a 52-week low of $113.02 and a 52-week high of $233.94.

Boeing (NYSE:BAGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The firm had revenue of $16.68 billion during the quarter, compared to analyst estimates of $17.53 billion. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Sell-side analysts anticipate that The Boeing Company will post -1.95 earnings per share for the current fiscal year.

Boeing Company Profile

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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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