Northwestern Mutual Wealth Management Co. Sells 17,123 Shares of The Boeing Company (NYSE:BA)

Northwestern Mutual Wealth Management Co. lowered its position in The Boeing Company (NYSE:BA) by 6.7% in the 2nd quarter, Holdings Channel reports. The firm owned 237,993 shares of the aircraft producer’s stock after selling 17,123 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Boeing were worth $43,317,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BA. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing in the 4th quarter worth about $26,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter worth approximately $33,000. Vima LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $34,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the second quarter valued at approximately $34,000. Finally, McClarren Financial Advisors Inc. grew its stake in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Baird R W raised Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, UBS Group lowered their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $209.83.

Boeing Price Performance

Shares of NYSE:BA opened at $156.32 on Monday. The firm has a market capitalization of $95.96 billion, a P/E ratio of -44.03 and a beta of 1.57. The business’s 50-day moving average is $168.52 and its 200 day moving average is $176.10. The Boeing Company has a 1 year low of $151.65 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced 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 company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.82) earnings per share. On average, analysts expect that The Boeing Company will post -4.27 EPS 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.