Mount Yale Investment Advisors LLC Reduces Stock Position in The Boeing Company (NYSE:BA)

Mount Yale Investment Advisors LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,087 shares of the aircraft producer’s stock after selling 837 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Boeing were worth $562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Capital Research Global Investors lifted its holdings in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after acquiring an additional 4,425,964 shares during the period. Wellington Management Group LLP grew its stake in shares of Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Boeing in the 1st quarter worth approximately $272,312,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

NYSE BA opened at $156.30 on Tuesday. The Boeing Company has a 1-year low of $151.65 and a 1-year high of $267.54. The business has a 50 day simple moving average of $170.76 and a two-hundred day simple moving average of $177.08. The stock has a market capitalization of $95.95 billion, a PE ratio of -44.03 and a beta of 1.57.

Boeing (NYSE:BA) last posted its 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 company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) earnings per share. On average, analysts anticipate that The Boeing Company will post -4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Susquehanna reissued a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Bank of America upped their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 price objective (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday. Finally, Sanford C. Bernstein dropped their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $212.89.

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.