Creative Planning Sells 51,128 Shares of The Boeing Company (NYSE:BA)

Creative Planning cut its stake in shares of The Boeing Company (NYSE:BA) by 16.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 258,806 shares of the aircraft producer’s stock after selling 51,128 shares during the quarter. Creative Planning’s holdings in Boeing were worth $39,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Boeing in the 2nd quarter worth $33,000. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter valued at about $39,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein dropped their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group lowered their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Down 0.2 %

BA opened at $155.00 on Friday. The company has a market cap of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The company has a 50-day moving average price of $161.10 and a 200 day moving average price of $172.53.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

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.