Horizon Wealth Management LLC Increases Stake in The Boeing Company (NYSE:BA)

Horizon Wealth Management LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,324 shares of the aircraft producer’s stock after buying an additional 972 shares during the period. Horizon Wealth Management LLC’s holdings in Boeing were worth $505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Boeing in the fourth quarter worth about $376,000. CWM LLC raised its position in Boeing by 14.4% in the 1st quarter. CWM LLC now owns 24,739 shares of the aircraft producer’s stock worth $4,774,000 after purchasing an additional 3,108 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Boeing by 13.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,518 shares of the aircraft producer’s stock worth $486,000 after buying an additional 297 shares during the period. Ridgewood Investments LLC lifted its position in shares of Boeing by 41.0% during the first quarter. Ridgewood Investments LLC now owns 5,059 shares of the aircraft producer’s stock worth $976,000 after purchasing an additional 1,472 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in Boeing by 9.3% during the 1st quarter. Apella Capital LLC now owns 7,431 shares of the aircraft producer’s stock valued at $1,324,000 after buying an additional 631 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA opened at $154.86 on Thursday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The firm has a market capitalization of $95.07 billion, a PE ratio of -43.62 and a beta of 1.57. The business’s 50 day moving average price is $161.63 and its 200-day moving average price is $173.00.

Boeing (NYSE:BA) last posted its quarterly 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 firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen decreased their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday. 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. Sanford C. Bernstein lowered their price objective on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen 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 “Moderate Buy” and a consensus target price of $201.00.

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.