GM Advisory Group LLC Cuts Stake in The Boeing Company (NYSE:BA)

GM Advisory Group LLC cut its holdings in The Boeing Company (NYSE:BA) by 61.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,208 shares of the aircraft producer’s stock after selling 6,784 shares during the quarter. GM Advisory Group LLC’s holdings in Boeing were worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brio Consultants LLC purchased a new position in Boeing in the fourth quarter valued at about $207,000. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the 4th quarter worth approximately $258,000. Franklin Resources Inc. lifted its position in Boeing by 3.6% during the fourth quarter. Franklin Resources Inc. now owns 38,330 shares of the aircraft producer’s stock valued at $9,991,000 after acquiring an additional 1,325 shares during the last quarter. InterOcean Capital Group LLC boosted its stake in Boeing by 3.7% in the fourth quarter. InterOcean Capital Group LLC now owns 5,379 shares of the aircraft producer’s stock valued at $1,402,000 after acquiring an additional 194 shares in the last quarter. Finally, Tidemark LLC purchased a new position in Boeing in the fourth quarter worth $100,000. 64.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on BA shares. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Bank of America upped their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reissued an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average price target of $211.29.

Boeing Stock Performance

Boeing stock opened at $154.55 on Friday. The company has a market cap of $94.88 billion, a price-to-earnings ratio of -43.54 and a beta of 1.57. The firm has a 50 day moving average price of $171.80 and a 200 day moving average price of $178.07. The Boeing Company has a 1 year low of $154.02 and a 1 year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during 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 quarter in the previous year, the business earned ($0.82) earnings per share. Sell-side analysts predict that The Boeing Company will post -4.26 EPS for the current year.

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.