Providence Wealth Advisors LLC Sells 211 Shares of The Boeing Company (NYSE:BA)

Providence Wealth Advisors LLC decreased its position in The Boeing Company (NYSE:BA) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,705 shares of the aircraft producer’s stock after selling 211 shares during the period. Providence Wealth Advisors LLC’s holdings in Boeing were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Boeing during the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC bought a new position in Boeing during the 3rd quarter valued at about $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the 2nd quarter valued at about $33,000. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter valued at about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA opened at $152.40 on Friday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54. The company has a 50 day simple moving average of $151.44 and a two-hundred day simple moving average of $167.67. The firm has a market cap of $94.21 billion, a P/E ratio of -11.81 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Boeing Company will post -16.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BA. Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, October 15th. The Goldman Sachs Group lowered their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has an average rating of “Hold” and an average price target of $190.11.

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.