Avestar Capital LLC Has $309,000 Stock Position in The Boeing Company (NYSE:BA)

Avestar Capital LLC trimmed its position in The Boeing Company (NYSE:BA) by 14.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,033 shares of the aircraft producer’s stock after selling 349 shares during the quarter. Avestar Capital LLC’s holdings in Boeing were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position 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 worth $1,018,775,000 after buying an additional 602,143 shares during the period. ING Groep NV acquired a new position in shares of Boeing during the 3rd quarter worth about $11,679,000. Lazari Capital Management Inc. grew its position in shares of Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after buying an additional 8,309 shares during the period. Atlanta Consulting Group Advisors LLC grew its position in shares of Boeing by 537.6% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock worth $1,144,000 after buying an additional 6,344 shares during the period. Finally, Patten & Patten Inc. TN grew its position in shares of Boeing by 19.8% during the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock worth $3,741,000 after buying an additional 4,065 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 1.1 %

BA stock opened at $152.42 on Thursday. The firm has a market capitalization of $94.23 billion, a PE ratio of -11.82 and a beta of 1.57. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $267.54. The business’s 50 day simple moving average is $151.48 and its 200 day simple moving average is $167.77.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 business had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the company posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that The Boeing Company will post -16.2 EPS for the current fiscal year.

Analyst Ratings Changes

BA has been the subject of several research analyst reports. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group cut their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.11.

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.