LongView Wealth Management Reduces Stock Position in The Boeing Company (NYSE:BA)

LongView Wealth Management cut its stake in The Boeing Company (NYSE:BA) by 14.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,082 shares of the aircraft producer’s stock after selling 188 shares during the period. LongView Wealth Management’s holdings in Boeing were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the fourth quarter worth approximately $26,000. Evolution Advisers Inc. acquired a new position in shares of Boeing in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Boeing in the 4th quarter valued at $28,000. Vima LLC acquired a new position in shares of Boeing in the 4th quarter valued at $34,000. Finally, Accent Capital Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.3 %

Boeing stock opened at $182.05 on Friday. The stock has a market cap of $111.76 billion, a price-to-earnings ratio of -51.28 and a beta of 1.55. The company’s 50-day moving average price is $178.50 and its two-hundred day moving average price is $198.77. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. Research analysts expect that The Boeing Company will post -1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BA. Bank of America lifted their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. StockNews.com downgraded shares of Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Susquehanna reissued a “positive” rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday, May 15th. Morgan Stanley cut their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada cut their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.89.

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.