The Boeing Company (NYSE:BA) Stake Raised by Concord Wealth Partners

Concord Wealth Partners increased its stake in The Boeing Company (NYSE:BA) by 34.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 504 shares of the aircraft producer’s stock after purchasing an additional 129 shares during the quarter. Concord Wealth Partners’ holdings in Boeing were worth $77,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Boeing in the 1st quarter valued at about $310,000. Cullinan Associates Inc. lifted its stake in Boeing by 73.3% during the first quarter. Cullinan Associates Inc. now owns 6,975 shares of the aircraft producer’s stock valued at $1,346,000 after purchasing an additional 2,950 shares during the last quarter. Naviter Wealth LLC boosted its holdings in Boeing by 39.4% during the first quarter. Naviter Wealth LLC now owns 5,541 shares of the aircraft producer’s stock worth $1,069,000 after buying an additional 1,566 shares in the last quarter. Kiley Juergens Wealth Management LLC grew its position in Boeing by 3.7% in the first quarter. Kiley Juergens Wealth Management LLC now owns 23,796 shares of the aircraft producer’s stock worth $4,592,000 after buying an additional 847 shares during the last quarter. Finally, Albion Financial Group UT increased its holdings in shares of Boeing by 40.2% in the first quarter. Albion Financial Group UT now owns 237 shares of the aircraft producer’s stock valued at $46,000 after buying an additional 68 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 2.8 %

BA opened at $150.71 on Tuesday. The stock has a fifty day moving average price of $159.10 and a 200 day moving average price of $171.48. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of -42.45 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted ($3.26) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BA shares. JPMorgan Chase & Co. reduced their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Jefferies Financial Group dropped their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.79.

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.