Altus Wealth Group LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Altus Wealth Group LLC increased its stake in The Boeing Company (NYSE:BA) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,325 shares of the aircraft producer’s stock after buying an additional 71 shares during the period. Altus Wealth Group LLC’s holdings in Boeing were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the 2nd quarter worth $34,000. McClarren Financial Advisors Inc. boosted its stake in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BA. Jefferies Financial Group decreased their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company decreased their target price on Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. decreased their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Finally, Stifel Nicolaus raised their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Down 3.2 %

NYSE BA traded down $5.17 during trading hours on Wednesday, hitting $154.71. 5,292,871 shares of the company were exchanged, compared to its average volume of 8,061,967. The stock has a 50-day moving average price of $160.84 and a 200 day moving average price of $172.11. The Boeing Company has a 52 week low of $146.02 and a 52 week high of $267.54. The stock has a market cap of $94.97 billion, a PE ratio of -45.03 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share 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 the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current year.

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.