HF Advisory Group LLC Cuts Position in The Boeing Company (NYSE:BA)

HF Advisory Group LLC trimmed its stake in The Boeing Company (NYSE:BA) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,576 shares of the aircraft producer’s stock after selling 105 shares during the period. HF Advisory Group LLC’s holdings in Boeing were worth $544,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BA. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing during the second quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Boeing in the second quarter valued at approximately $39,000. Finally, Strategic Financial Concepts LLC purchased a new position in Boeing in the second quarter worth $41,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Down 2.6 %

Boeing stock opened at $150.99 on Wednesday. The firm has a market cap of $93.34 billion, a PE ratio of -11.70 and a beta of 1.57. The stock’s 50 day simple moving average is $156.65 and its two-hundred day simple moving average is $170.77. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.26) EPS. On average, equities research analysts forecast that The Boeing Company will post -16.13 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BA shares. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Susquehanna lowered their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $190.37.

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.