Alpha Cubed Investments LLC Sells 942 Shares of The Boeing Company (NYSE:BA)

Alpha Cubed Investments LLC cut its holdings in The Boeing Company (NYSE:BA) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,627 shares of the aircraft producer’s stock after selling 942 shares during the period. Alpha Cubed Investments LLC’s holdings in Boeing were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Evolution Advisers Inc. bought a new stake in Boeing in the fourth quarter worth $28,000. CNB Bank increased its position in shares of Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. Naples Money Management LLC purchased a new position in shares of Boeing in the fourth quarter valued at about $44,000. M&R Capital Management Inc. increased its position in shares of Boeing by 35.0% in the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 50 shares during the period. Finally, Keener Financial Planning LLC purchased a new position in shares of Boeing in the fourth quarter valued at about $52,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of Boeing stock opened at $167.70 on Wednesday. The company’s 50 day moving average is $185.21 and its 200 day moving average is $206.38. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the company earned ($1.75) EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts expect that The Boeing Company will post -0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BA shares. Barclays decreased their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reduced their price target on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Finally, Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Boeing has an average rating of “Hold” and a consensus price target of $222.41.

Boeing Company 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.