Advisory Services Network LLC Sells 6,871 Shares of The Boeing Company (NYSE:BA)

Advisory Services Network LLC lessened its position in shares of The Boeing Company (NYSE:BA) by 20.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,466 shares of the aircraft producer’s stock after selling 6,871 shares during the period. Advisory Services Network LLC’s holdings in Boeing were worth $5,301,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mittelman Wealth Management acquired a new position in shares of Boeing during the 1st quarter worth about $200,000. Texas Permanent School Fund Corp boosted its stake in shares of Boeing by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 118,553 shares of the aircraft producer’s stock worth $22,880,000 after buying an additional 1,399 shares during the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in shares of Boeing by 1.6% during the 1st quarter. 9258 Wealth Management LLC now owns 5,507 shares of the aircraft producer’s stock worth $1,063,000 after buying an additional 87 shares during the last quarter. Finally, Capital Management Associates NY boosted its stake in shares of Boeing by 53.9% during the 1st quarter. Capital Management Associates NY now owns 6,203 shares of the aircraft producer’s stock worth $1,197,000 after buying an additional 2,173 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Morgan Stanley cut their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. TD Cowen cut their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 25th. Northcoast Research downgraded shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price for the company. in a research note on Wednesday, April 17th. Finally, Barclays cut their target price on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.89.

Boeing Price Performance

NYSE:BA traded down $3.03 during mid-day trading on Friday, reaching $180.88. The stock had a trading volume of 1,721,877 shares, compared to its average volume of 8,302,786. The stock has a 50-day simple moving average of $181.15 and a two-hundred day simple moving average of $194.16. The stock has a market capitalization of $111.04 billion, a PE ratio of -51.05 and a beta of 1.56. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. Equities analysts expect that The Boeing Company will post -1.72 EPS for the current year.

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.