Auxier Asset Management Decreases Stock Position in The Boeing Company (NYSE:BA)

Auxier Asset Management cut its holdings in The Boeing Company (NYSE:BA) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,195 shares of the aircraft producer’s stock after selling 180 shares during the quarter. Auxier Asset Management’s holdings in Boeing were worth $2,584,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BA. Vermillion & White Wealth Management Group LLC bought a new position in Boeing during the 4th quarter valued at about $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the second quarter worth $33,000. Vima LLC purchased a new stake in Boeing during the fourth quarter valued at $34,000. Hobbs Group Advisors LLC bought a new position in Boeing in the second quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. boosted its position in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Price Performance

Boeing stock opened at $153.29 on Friday. The Boeing Company has a 1 year low of $152.60 and a 1 year high of $267.54. The firm’s 50 day moving average price is $171.21 and its 200-day moving average price is $177.74. The stock has a market cap of $94.10 billion, a P/E ratio of -43.18 and a beta of 1.57.

Boeing (NYSE:BA) last announced 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 business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.82) EPS. As a group, equities analysts expect that The Boeing Company will post -4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an “underweight” rating and issued a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. UBS Group cut their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein reduced their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Bank of America lifted their target price on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Finally, Robert W. Baird reduced their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.