RPG Investment Advisory LLC Lowers Position in The Boeing Company (NYSE:BA)

RPG Investment Advisory LLC cut its holdings in shares of The Boeing Company (NYSE:BA) by 14.7% in the third quarter, HoldingsChannel.com reports. The firm owned 56,171 shares of the aircraft producer’s stock after selling 9,678 shares during the quarter. RPG Investment Advisory LLC’s holdings in Boeing were worth $8,540,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter valued at about $34,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the 2nd quarter valued at about $39,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Boeing in the 1st quarter valued at about $53,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Boeing stock opened at $145.17 on Wednesday. The Boeing Company has a 1-year low of $143.85 and a 1-year high of $267.54. The stock’s 50 day moving average price is $154.81 and its 200 day moving average price is $170.26.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock 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 report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.37.

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.