Reston Wealth Management LLC Takes $106,000 Position in The Boeing Company (NYSE:BA)

Reston Wealth Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 700 shares of the aircraft producer’s stock, valued at approximately $106,000.

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

Boeing Price Performance

NYSE BA opened at $149.29 on Friday. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The company has a market capitalization of $92.29 billion, a PE ratio of -11.57 and a beta of 1.57. The company has a fifty day moving average of $157.86 and a two-hundred day moving average of $171.09.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the company earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BA. TD Cowen cut their target price on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research report on Wednesday. Jefferies Financial Group dropped their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $190.42.

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.