Sunbelt Securities Inc. Raises Holdings in The Boeing Company (NYSE:BA)

Sunbelt Securities Inc. raised its holdings in shares of The Boeing Company (NYSE:BA) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,143 shares of the aircraft producer’s stock after purchasing an additional 184 shares during the period. Sunbelt Securities Inc.’s holdings in Boeing were worth $1,118,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanders Morris Harris LLC raised its position in Boeing by 869.1% during the 1st quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after purchasing an additional 20,425 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Boeing by 20.7% in the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after acquiring an additional 1,805 shares in the last quarter. Williams Financial LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $1,637,000. Granite Bay Wealth Management LLC bought a new position in shares of Boeing in the 2nd quarter worth approximately $561,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Boeing by 115.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock worth $2,825,000 after acquiring an additional 7,848 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 target price on shares of Boeing in a research report on Tuesday, June 25th. Sanford C. Bernstein decreased their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group decreased their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.83.

Boeing Trading Down 2.7 %

Shares of BA opened at $152.03 on Tuesday. The business’s fifty day simple moving average is $167.99 and its two-hundred day simple moving average is $175.90. The Boeing Company has a 12 month low of $151.24 and a 12 month high of $267.54. The company has a market cap of $93.33 billion, a price-to-earnings ratio of -42.83 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.82) EPS. As a group, research analysts forecast that The Boeing Company will post -4.27 EPS 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.