Connectus Wealth LLC Sells 1,728 Shares of The Boeing Company (NYSE:BA)

Connectus Wealth LLC lowered its position in The Boeing Company (NYSE:BAFree Report) by 18.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,573 shares of the aircraft producer’s stock after selling 1,728 shares during the period. Connectus Wealth LLC’s holdings in Boeing were worth $1,974,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC bought a new stake in Boeing in the 4th quarter valued at $26,000. Evolution Advisers Inc. acquired a new position in shares of Boeing during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Boeing during the fourth quarter worth about $28,000. Naples Money Management LLC acquired a new stake in Boeing in the 4th quarter valued at approximately $44,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Boeing in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.1 %

Shares of NYSE:BA opened at $190.12 on Tuesday. The stock has a market cap of $116.71 billion, a PE ratio of -53.55 and a beta of 1.55. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The business has a 50 day moving average of $177.72 and a 200-day moving average of $203.56.

Boeing (NYSE:BAGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $17.69 billion. Equities research analysts expect that The Boeing Company will post -1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BA shares. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a report on Wednesday, April 17th. TD Cowen reduced their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Sanford C. Bernstein lowered their target price on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada lowered their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.33.

View Our Latest Stock Report on BA

About Boeing

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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