The Boeing Company (NYSE:BA) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 21.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,809 shares of the aircraft producer’s stock after selling 763 shares during the period. Edge Capital Group LLC’s holdings in Boeing were worth $511,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing in the 4th quarter valued at $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at $33,000. Vima LLC purchased a new position in Boeing during the fourth quarter worth about $34,000. Hobbs Group Advisors LLC acquired a new stake in Boeing in the 2nd quarter worth about $34,000. Finally, McClarren Financial Advisors Inc. grew its holdings in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BA. Wells Fargo & Company reiterated an “underweight” rating and set a $119.00 price objective (down from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Bank of America boosted their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Robert W. Baird cut their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Sanford C. Bernstein dropped their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.29.

Boeing Stock Performance

Shares of BA opened at $153.29 on Monday. The Boeing Company has a one year low of $152.60 and a one year high of $267.54. The stock has a 50-day moving average price of $171.21 and a 200 day moving average price of $177.41. The company has a market capitalization of $94.10 billion, a P/E ratio of -43.18 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) earnings per share. As a group, equities research analysts forecast that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

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.