The Boeing Company (NYSE:BA) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lessened its holdings in shares of The Boeing Company (NYSE:BA) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,041 shares of the aircraft producer’s stock after selling 6,160 shares during the quarter. Wesbanco Bank Inc.’s holdings in Boeing were worth $4,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adamsbrown Wealth Consultants LLC raised its holdings in Boeing by 8.5% in the third quarter. Adamsbrown Wealth Consultants LLC now owns 2,204 shares of the aircraft producer’s stock valued at $335,000 after acquiring an additional 173 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Boeing in the 3rd quarter worth approximately $141,000. Procyon Advisors LLC increased its holdings in shares of Boeing by 2.5% in the 3rd quarter. Procyon Advisors LLC now owns 54,570 shares of the aircraft producer’s stock valued at $8,299,000 after acquiring an additional 1,355 shares during the last quarter. Orca Investment Management LLC raised its position in shares of Boeing by 10.4% during the 3rd quarter. Orca Investment Management LLC now owns 3,840 shares of the aircraft producer’s stock valued at $584,000 after acquiring an additional 361 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. raised its position in shares of Boeing by 33.3% during the 3rd quarter. Ameliora Wealth Management Ltd. now owns 4,000 shares of the aircraft producer’s stock valued at $608,000 after acquiring an additional 1,000 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $149.10 on Tuesday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The business’s fifty day moving average is $162.05 and its 200-day moving average is $173.41. The stock has a market cap of $91.53 billion, a PE ratio of -42.00 and a beta of 1.57.

Boeing (NYSE:BA) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the firm posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts predict that The Boeing Company will post -5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BA shares. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their target price on Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Sanford C. Bernstein dropped their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven 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 an average rating of “Moderate Buy” and a consensus target price of $204.56.

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.