Cetera Investment Advisers Decreases Stake in The Boeing Company (NYSE:BA)

Cetera Investment Advisers lowered its position in shares of The Boeing Company (NYSE:BA) by 23.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 228,744 shares of the aircraft producer’s stock after selling 70,273 shares during the quarter. Cetera Investment Advisers’ holdings in Boeing were worth $41,634,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BA. Chicago Partners Investment Group LLC lifted its holdings in shares of Boeing by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock valued at $3,895,000 after purchasing an additional 56 shares during the last quarter. Madison Park Capital Advisors LLC lifted its holdings in shares of Boeing by 4.9% during the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in shares of Boeing by 4.3% during the fourth quarter. Angeles Wealth Management LLC now owns 1,463 shares of the aircraft producer’s stock valued at $381,000 after purchasing an additional 60 shares during the last quarter. Bridge Creek Capital Management LLC lifted its stake in Boeing by 3.1% in the 1st quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock worth $383,000 after acquiring an additional 60 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC lifted its stake in Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BA. Wells Fargo & Company reduced their price objective on Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a research note on Tuesday. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein reduced their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Finally, UBS Group reduced their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and an average price target of $207.67.

Boeing Stock Performance

NYSE:BA opened at $154.24 on Wednesday. The firm has a market cap of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57. The Boeing Company has a 52 week low of $149.49 and a 52 week high of $267.54. The firm’s 50-day simple moving average is $167.34 and its 200 day simple moving average is $175.70.

Boeing (NYSE:BA) last announced its quarterly earnings data 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 business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the firm earned ($0.82) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Sell-side analysts anticipate that The Boeing Company will post -4.27 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.