Western Wealth Management LLC Lowers Stake in The Boeing Company (NYSE:BA)

Western Wealth Management LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 21.5% in the second quarter, Holdings Channel reports. The firm owned 7,816 shares of the aircraft producer’s stock after selling 2,141 shares during the period. Western Wealth Management LLC’s holdings in Boeing were worth $1,423,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of Boeing by 21.3% in the fourth quarter. Federated Hermes Inc. now owns 134,687 shares of the aircraft producer’s stock worth $35,108,000 after purchasing an additional 23,630 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Boeing by 143.8% during the 4th quarter. Fidelis Capital Partners LLC now owns 3,142 shares of the aircraft producer’s stock valued at $819,000 after buying an additional 1,853 shares during the last quarter. HTLF Bank acquired a new position in shares of Boeing in the 4th quarter valued at about $738,000. Beaumont Financial Advisors LLC boosted its stake in shares of Boeing by 5.4% in the fourth quarter. Beaumont Financial Advisors LLC now owns 1,713 shares of the aircraft producer’s stock worth $447,000 after buying an additional 87 shares during the last quarter. Finally, Zhang Financial LLC grew its holdings in Boeing by 21.3% during the fourth quarter. Zhang Financial LLC now owns 1,590 shares of the aircraft producer’s stock worth $414,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company lowered their target price on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.18.

Boeing Trading Down 0.2 %

NYSE:BA traded down $0.43 during trading hours on Monday, hitting $179.56. The company had a trading volume of 763,754 shares, compared to its average volume of 8,016,846. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54. The company has a 50-day moving average of $179.34 and a 200 day moving average of $184.34. The company has a market cap of $110.23 billion, a P/E ratio of -50.70 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the company earned ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -2.38 earnings per share for the current year.

Boeing Company 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.