Edge Wealth Management LLC Lowers Stake in The Boeing Company (NYSE:BA)

Edge Wealth Management LLC cut its position in The Boeing Company (NYSE:BA) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390 shares of the aircraft producer’s stock after selling 507 shares during the period. Edge Wealth Management LLC’s holdings in Boeing were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Congress Park Capital LLC bought a new position in Boeing in the 4th quarter worth $238,000. JGP Wealth Management LLC lifted its position in shares of Boeing by 21.0% in the fourth quarter. JGP Wealth Management LLC now owns 1,691 shares of the aircraft producer’s stock valued at $299,000 after acquiring an additional 293 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the period. Beech Hill Advisors Inc. grew its position in shares of Boeing by 5.5% during the fourth quarter. Beech Hill Advisors Inc. now owns 13,855 shares of the aircraft producer’s stock worth $2,452,000 after purchasing an additional 718 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Boeing by 47.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,419 shares of the aircraft producer’s stock valued at $782,000 after purchasing an additional 1,421 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Up 1.6 %

Shares of BA opened at $168.91 on Friday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59. The company’s fifty day simple moving average is $162.40 and its 200-day simple moving average is $164.98. The company has a market cap of $104.42 billion, a P/E ratio of -13.09 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BA. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Susquehanna reduced their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.21.

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.