Bogart Wealth LLC Lowers Stock Position in The Boeing Company (NYSE:BA)

Bogart Wealth LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,275 shares of the aircraft producer’s stock after selling 74 shares during the quarter. Bogart Wealth LLC’s holdings in Boeing were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle West Asset Management Inc. increased its stake in Boeing by 7.8% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 4,695 shares of the aircraft producer’s stock worth $714,000 after buying an additional 340 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Boeing by 17.8% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 3,350 shares of the aircraft producer’s stock worth $509,000 after acquiring an additional 505 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Boeing by 23.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,998 shares of the aircraft producer’s stock worth $456,000 after purchasing an additional 570 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at approximately $1,643,000. Finally, First National Bank of Hutchinson purchased a new position in Boeing in the 3rd quarter worth approximately $215,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BA shares. Wells Fargo & Company cut their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein dropped their price objective on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group cut their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $191.79.

Boeing Stock Performance

Shares of BA stock opened at $155.19 on Friday. The stock has a 50 day moving average price of $160.61 and a 200 day moving average price of $172.01. The firm has a market capitalization of $95.27 billion, a P/E ratio of -43.72 and a beta of 1.57. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.85) by ($5.59). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned ($3.26) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -5.35 EPS for the current year.

Boeing 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.