WealthPLAN Partners LLC Reduces Holdings in The Boeing Company (NYSE:BA)

WealthPLAN Partners LLC lowered its stake in shares of The Boeing Company (NYSE:BA) by 17.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,426 shares of the aircraft producer’s stock after selling 504 shares during the period. WealthPLAN Partners LLC’s holdings in Boeing were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after buying an additional 960,993 shares during the period. Finally, Newport Trust Company LLC increased its stake in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Down 2.5 %

NYSE BA opened at $145.17 on Wednesday. The stock has a market cap of $89.74 billion, a price-to-earnings ratio of -11.25 and a beta of 1.57. The Boeing Company has a 12 month low of $143.85 and a 12 month high of $267.54. The company’s 50 day moving average is $154.81 and its two-hundred day moving average is $170.26.

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 company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group cut their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, TD Cowen reduced their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $190.37.

Boeing 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.