Stony Point Wealth Management Inc. Sells 84 Shares of Boeing Co (NYSE:BA)

Stony Point Wealth Management Inc. decreased its position in Boeing Co (NYSE:BA) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,815 shares of the aircraft producer’s stock after selling 84 shares during the period. Boeing accounts for 1.4% of Stony Point Wealth Management Inc.’s portfolio, making the stock its 24th largest position. Stony Point Wealth Management Inc.’s holdings in Boeing were worth $1,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Boeing by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 40,214,155 shares of the aircraft producer’s stock worth $14,638,355,000 after acquiring an additional 275,250 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 7.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,740,551 shares of the aircraft producer’s stock valued at $13,009,918,000 after acquiring an additional 2,607,364 shares during the period. BlackRock Inc. grew its position in shares of Boeing by 0.8% during the 2nd quarter. BlackRock Inc. now owns 34,081,637 shares of the aircraft producer’s stock valued at $12,406,056,000 after acquiring an additional 264,410 shares during the period. Newport Trust Co grew its position in shares of Boeing by 1.0% during the 2nd quarter. Newport Trust Co now owns 30,669,091 shares of the aircraft producer’s stock valued at $11,163,856,000 after acquiring an additional 298,466 shares during the period. Finally, FMR LLC grew its position in shares of Boeing by 26.5% during the 1st quarter. FMR LLC now owns 11,041,836 shares of the aircraft producer’s stock valued at $4,211,577,000 after acquiring an additional 2,311,630 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

BA stock traded down $1.86 during mid-day trading on Tuesday, hitting $371.32. The company had a trading volume of 178,595 shares, compared to its average volume of 3,367,459. The company has a market capitalization of $210.97 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 12.44 and a beta of 1.25. Boeing Co has a 12-month low of $292.47 and a 12-month high of $446.01. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 48.98. The company has a 50-day moving average price of $372.44 and a 200 day moving average price of $362.66.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 24th. The aircraft producer reported $2.92 EPS for the quarter, topping the consensus estimate of $1.85 by $1.07. The business had revenue of $15.75 billion for the quarter, compared to analysts’ expectations of $15.05 billion. Boeing had a net margin of 5.42% and a negative return on equity of 632.24%. The business’s quarterly revenue was down 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 EPS. As a group, analysts expect that Boeing Co will post 3.46 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Boeing from $448.00 to $420.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Barclays set a $367.00 target price on shares of Boeing and gave the stock a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $430.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Buckingham Research set a $395.00 target price on shares of Boeing and gave the stock a “hold” rating in a report on Tuesday, October 8th. Finally, Berenberg Bank set a $440.00 target price on shares of Boeing and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $403.10.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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