Edge Financial Advisors LLC Makes New $264,000 Investment in The Boeing Company (NYSE:BA)

Edge Financial Advisors LLC acquired a new stake in The Boeing Company (NYSE:BA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,739 shares of the aircraft producer’s stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BA. Hobbs Group Advisors LLC purchased a new stake in Boeing during the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. grew its stake in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing in the second quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.3 %

BA stock traded up $1.97 during trading on Wednesday, hitting $154.95. The company had a trading volume of 5,281,213 shares, compared to its average volume of 8,453,895. The firm has a market capitalization of $95.12 billion, a price-to-earnings ratio of -43.09 and a beta of 1.57. The business has a 50 day moving average of $158.72 and a 200 day moving average of $171.36. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last released its earnings results 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 business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research report on Wednesday. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Finally, UBS Group reduced their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.42.

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.