Hohimer Wealth Management LLC Decreases Stock Holdings in The Boeing Company (NYSE:BA)

Hohimer Wealth Management LLC cut its stake in The Boeing Company (NYSE:BA) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,863 shares of the aircraft producer’s stock after selling 186 shares during the period. Hohimer Wealth Management LLC’s holdings in Boeing were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rehmann Capital Advisory Group raised its holdings in Boeing by 1.7% during the third quarter. Rehmann Capital Advisory Group now owns 9,533 shares of the aircraft producer’s stock worth $1,449,000 after purchasing an additional 158 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Boeing by 15.6% in the third quarter. TD Private Client Wealth LLC now owns 1,734 shares of the aircraft producer’s stock valued at $264,000 after buying an additional 234 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Boeing during the 3rd quarter worth $1,102,000. Asset Allocation Strategies LLC boosted its position in shares of Boeing by 43.6% in the 3rd quarter. Asset Allocation Strategies LLC now owns 1,705 shares of the aircraft producer’s stock worth $259,000 after buying an additional 518 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Boeing by 7.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 6,579 shares of the aircraft producer’s stock valued at $1,000,000 after acquiring an additional 436 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 4.6 %

BA stock opened at $164.20 on Wednesday. The stock has a 50-day moving average price of $151.69 and a two-hundred day moving average price of $166.22. The company has a market cap of $101.51 billion, a PE ratio of -12.73 and a beta of 1.56. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its earnings results 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 company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted ($3.26) earnings per share. Equities analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BA. Benchmark reaffirmed a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Citigroup lowered their target price 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 reduced their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Susquehanna dropped their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $190.11.

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.