Ritholtz Wealth Management Has $875,000 Stock Holdings in The Boeing Company (NYSE:BA)

Ritholtz Wealth Management cut its stake in The Boeing Company (NYSE:BA) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,945 shares of the aircraft producer’s stock after selling 295 shares during the period. Ritholtz Wealth Management’s holdings in Boeing were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BA. Van ECK Associates Corp grew its holdings in Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the period. International Assets Investment Management LLC boosted its position in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the period. State Street Corp increased its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen decreased 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. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Trading Up 1.3 %

NYSE:BA opened at $171.14 on Monday. The stock has a market capitalization of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The firm’s 50 day moving average is $163.15 and its 200 day moving average is $164.75. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.26) EPS. Research analysts predict that The Boeing Company will post -16.43 earnings per share for the current 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.