Sheaff Brock Investment Advisors LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Sheaff Brock Investment Advisors LLC decreased its position in shares of The Boeing Company (NYSE:BA) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 15,341 shares of the aircraft producer’s stock after selling 80 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Boeing were worth $2,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter worth about $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing during the second quarter valued at approximately $34,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of 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 buying an additional 165 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the second quarter valued at $39,000. Finally, Strategic Financial Concepts LLC acquired a new position in Boeing during the second quarter valued at $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $137.95 on Friday. The Boeing Company has a twelve month low of $137.22 and a twelve month high of $267.54. The firm’s fifty day simple moving average is $154.03 and its 200-day simple moving average is $169.89.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the business earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BA shares. Wells Fargo & Company decreased their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. TD Cowen cut their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.37.

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.