B. Riley Wealth Advisors Inc. Cuts Stock Holdings in The Boeing Company (NYSE:BA)

B. Riley Wealth Advisors Inc. decreased its stake in shares of The Boeing Company (NYSE:BA) by 17.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,937 shares of the aircraft producer’s stock after selling 3,979 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Boeing were worth $2,865,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Newport Trust Company LLC boosted its position in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. State Street Corp boosted its position in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Boeing by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.1 %

Boeing stock opened at $169.65 on Monday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $267.54. The business has a 50-day simple moving average of $152.79 and a 200 day simple moving average of $166.02. The stock has a market cap of $104.88 billion, a price-to-earnings ratio of -13.15 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on BA shares. 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. Wells Fargo & Company cut their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $190.11.

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.