Summit Financial Wealth Advisors LLC Purchases 300 Shares of The Boeing Company (NYSE:BA)

Summit Financial Wealth Advisors LLC increased its position in The Boeing Company (NYSE:BA) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,538 shares of the aircraft producer’s stock after buying an additional 300 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Boeing were worth $386,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Newport Trust Company LLC boosted its position in shares of Boeing by 1.2% during the second 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Boeing by 2.0% in the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after purchasing an additional 67,474 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Citigroup cut their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company decreased their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, October 15th. Finally, 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 report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.11.

Boeing Price Performance

BA stock opened at $153.08 on Tuesday. The company has a market capitalization of $94.63 billion, a PE ratio of -11.87 and a beta of 1.57. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The firm’s 50-day moving average is $151.65 and its 200 day moving average is $168.08.

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

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.