Strait & Sound Wealth Management LLC Has $577,000 Stock Position in The Boeing Company (NYSE:BA)

Strait & Sound Wealth Management LLC cut its stake in The Boeing Company (NYSE:BA) by 27.4% in the third quarter, HoldingsChannel reports. The fund owned 3,798 shares of the aircraft producer’s stock after selling 1,431 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Boeing were worth $577,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after acquiring an additional 320,415 shares during the period. Prestige Wealth Management Group LLC raised its holdings in Boeing by 16.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,025 shares of the aircraft producer’s stock worth $156,000 after purchasing an additional 145 shares during the last quarter. Resources Management Corp CT ADV lifted its position in Boeing by 322.4% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,225 shares of the aircraft producer’s stock valued at $186,000 after purchasing an additional 935 shares during the period. Executive Wealth Management LLC bought a new position in shares of Boeing in the 3rd quarter valued at about $264,000. Finally, Nabity Jensen Investment Management Inc acquired a new stake in shares of Boeing during the 3rd quarter worth approximately $392,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on BA. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $190.11.

Boeing Stock Up 2.1 %

Shares of BA opened at $157.19 on Tuesday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $267.54. The stock has a market capitalization of $97.17 billion, a P/E ratio of -12.19 and a beta of 1.56. The company has a 50 day moving average of $151.69 and a 200-day moving average of $166.22.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current fiscal year.

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.