Avior Wealth Management LLC Reduces Position in The Boeing Company (NYSE:BA)

Avior Wealth Management LLC trimmed its holdings in The Boeing Company (NYSE:BA) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 62,594 shares of the aircraft producer’s stock after selling 847 shares during the period. Avior Wealth Management LLC’s holdings in Boeing were worth $11,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Boeing by 2.8% during the 3rd 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 period. Jennison Associates LLC lifted its holdings in Boeing by 9.9% in 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 acquiring an additional 602,143 shares during the last quarter. Fisher Asset Management LLC grew its position in Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares during the period. Finally, Legal & General Group Plc increased its stake in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after acquiring an additional 67,474 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Two 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Stock Performance

Shares of Boeing stock opened at $174.87 on Thursday. The business has a 50-day simple moving average of $164.90 and a 200-day simple moving average of $164.53. The company has a market cap of $108.11 billion, a PE ratio of -13.56 and a beta of 1.52. The Boeing Company has a one year low of $137.03 and a one year high of $217.59.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that The Boeing Company will post -16.36 earnings per share for the current fiscal year.

Boeing Company 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.