ACT Advisors LLC. Reduces Stake in The Boeing Company (NYSE:BA)

ACT Advisors LLC. lessened its stake in The Boeing Company (NYSE:BA) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,391 shares of the aircraft producer’s stock after selling 66 shares during the quarter. ACT Advisors LLC.’s holdings in Boeing were worth $211,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BA. Hobbs Group Advisors LLC bought a new position in Boeing in the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. boosted its stake in 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. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the second quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $155.00 on Monday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a 50-day moving average of $161.10 and a 200 day moving average of $172.44. The stock has a market cap of $95.15 billion, a P/E ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the firm earned ($0.82) EPS. The business’s revenue was down 14.6% on a year-over-year basis. Research analysts expect that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

BA has been the subject of several recent analyst reports. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Sanford C. Bernstein decreased their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group dropped 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. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company decreased their price objective on Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $198.79.

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.