Obermeyer Wood Investment Counsel Lllp Lowers Holdings in The Boeing Company (NYSE:BA)

Obermeyer Wood Investment Counsel Lllp lowered its position in shares of The Boeing Company (NYSE:BA) by 30.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,204 shares of the aircraft producer’s stock after selling 535 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Boeing were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing in the fourth quarter valued at $26,000. Vima LLC purchased a new position in Boeing during the fourth quarter worth $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing in the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its stake in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Boeing during the first quarter worth $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

Boeing stock opened at $173.74 on Monday. The company’s 50-day moving average is $178.13 and its 200-day moving average is $181.91. The firm has a market capitalization of $107.05 billion, a PE ratio of -48.94 and a beta of 1.56. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BA shares. Wells Fargo & Company lowered their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Bank of America upped their target price on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Sanford C. Bernstein dropped their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.18.

Boeing 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.