The Boeing Company (NYSE:BA) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 13.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,850 shares of the aircraft producer’s stock after selling 18,540 shares during the quarter. Boeing comprises about 3.1% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 6th biggest position. FRG Family Wealth Advisors LLC’s holdings in Boeing were worth $21,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Boeing during the fourth quarter worth about $26,000. Vima LLC bought a new stake in Boeing during the 4th quarter worth approximately $34,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing in the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of Boeing during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 3.4 %

Shares of BA stock opened at $162.92 on Tuesday. The firm’s 50 day moving average is $176.06 and its 200 day moving average is $180.23. The stock has a market capitalization of $100.39 billion, a P/E ratio of -45.89 and a beta of 1.58. The Boeing Company has a 12 month low of $156.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.82) EPS. On average, equities analysts predict that The Boeing Company will post -4.26 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on BA. Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Robert W. Baird reduced their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Finally, Bank of America upped their target price on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.