Sequoia Financial Advisors LLC Increases Stake in The Boeing Company (NYSE:BA)

Sequoia Financial Advisors LLC boosted its stake in shares of The Boeing Company (NYSE:BA) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,217 shares of the aircraft producer’s stock after acquiring an additional 2,179 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Boeing were worth $3,530,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BA. Madison Park Capital Advisors LLC grew its holdings in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in Boeing by 1.6% in the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC grew its holdings in Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management grew its holdings in Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. grew its holdings in Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after purchasing an additional 65 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Down 1.8 %

NYSE:BA opened at $157.06 on Thursday. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The company has a market capitalization of $96.42 billion, a P/E ratio of -44.24 and a beta of 1.57. The stock’s fifty day moving average is $160.61 and its two-hundred day moving average is $172.01.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company dropped 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. Deutsche Bank Aktiengesellschaft dropped their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Sanford C. Bernstein lowered their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.