Naviter Wealth LLC Sells 1,033 Shares of The Boeing Company (NYSE:BA)

Naviter Wealth LLC reduced its stake in The Boeing Company (NYSE:BA) by 16.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,320 shares of the aircraft producer’s stock after selling 1,033 shares during the period. Naviter Wealth LLC’s holdings in Boeing were worth $809,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the 2nd quarter worth $34,000. McClarren Financial Advisors Inc. grew its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing in the 2nd quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday. The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.32.

Boeing Trading Up 0.3 %

Shares of BA stock opened at $155.31 on Friday. The Boeing Company has a 1-year low of $146.02 and a 1-year high of $267.54. The stock has a market cap of $95.34 billion, a price-to-earnings ratio of -43.75 and a beta of 1.57. The stock has a 50-day moving average of $161.36 and a 200-day moving average of $172.88.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.82) earnings per share. Sell-side analysts forecast that The Boeing Company will post -5.35 earnings per share for the current year.

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.