Icon Wealth Advisors LLC Cuts Stock Holdings in The Boeing Company (NYSE:BA)

Icon Wealth Advisors LLC lowered its position in The Boeing Company (NYSE:BA) by 56.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,467 shares of the aircraft producer’s stock after selling 1,901 shares during the period. Icon Wealth Advisors LLC’s holdings in Boeing were worth $223,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BA. Jennison Associates LLC lifted 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 in the last quarter. ING Groep NV bought a new stake in Boeing during the third quarter worth $11,679,000. Lazari Capital Management Inc. boosted its position in Boeing by 55.7% in the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after purchasing an additional 8,309 shares during the last quarter. Atlanta Consulting Group Advisors LLC grew its stake in Boeing by 537.6% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock valued at $1,144,000 after purchasing an additional 6,344 shares during the period. Finally, Patten & Patten Inc. TN increased 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 valued at $3,741,000 after purchasing an additional 4,065 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. TD Cowen lowered their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Benchmark reissued a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Up 4.1 %

Shares of NYSE:BA opened at $149.29 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54. The stock has a market cap of $92.29 billion, a P/E ratio of -11.57 and a beta of 1.57. The company has a 50 day moving average of $151.70 and a 200 day moving average of $168.36.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($3.26) earnings per share. On average, equities analysts forecast that The Boeing Company will post -16.2 earnings per share for the current fiscal 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.