Onyx Bridge Wealth Group LLC Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Onyx Bridge Wealth Group LLC reduced its holdings in The Boeing Company (NYSE:BA) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,233 shares of the aircraft producer’s stock after selling 1,257 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Boeing were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC boosted its holdings in Boeing by 11.1% in the fourth quarter. Tyche Wealth Partners LLC now owns 3,001 shares of the aircraft producer’s stock valued at $531,000 after acquiring an additional 300 shares during the last quarter. Clayton Financial Group LLC purchased a new stake in shares of Boeing during the 4th quarter worth about $1,104,000. Money Concepts Capital Corp increased its position in Boeing by 13.1% during the 4th quarter. Money Concepts Capital Corp now owns 2,177 shares of the aircraft producer’s stock worth $385,000 after purchasing an additional 253 shares in the last quarter. Stratos Investment Management LLC raised its holdings in Boeing by 16.0% in the fourth quarter. Stratos Investment Management LLC now owns 3,958 shares of the aircraft producer’s stock valued at $701,000 after buying an additional 547 shares during the period. Finally, Yousif Capital Management LLC lifted its position in Boeing by 20.3% during the fourth quarter. Yousif Capital Management LLC now owns 80,546 shares of the aircraft producer’s stock valued at $14,257,000 after buying an additional 13,586 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Up 3.2 %

Shares of BA opened at $181.80 on Thursday. The firm has a market cap of $112.39 billion, a price-to-earnings ratio of -9.92 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $213.77. The stock has a 50 day moving average of $170.47 and a 200-day moving average of $164.00.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the business posted ($0.47) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BA. Wells Fargo & Company increased their price objective on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Robert W. Baird cut their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Finally, Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.