Primoris Wealth Advisors LLC Sells 6,878 Shares of The Boeing Company (NYSE:BA)

Primoris Wealth Advisors LLC reduced its position in The Boeing Company (NYSE:BA) by 49.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,987 shares of the aircraft producer’s stock after selling 6,878 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in Boeing were worth $1,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Vanguard Group Inc. grew its stake in Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC grew its stake in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the period. Legal & General Group Plc raised its position in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BA shares. JPMorgan Chase & Co. cut their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group dropped their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Stifel Nicolaus boosted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group cut their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Hold” and an average target price of $190.37.

Boeing Trading Up 0.5 %

Shares of NYSE BA traded up $0.70 during midday trading on Friday, reaching $151.68. The company had a trading volume of 12,996,805 shares, compared to its average volume of 9,024,028. The Boeing Company has a 1 year low of $144.13 and a 1 year high of $267.54. The business’s 50-day simple moving average is $155.31 and its 200 day simple moving average is $170.34. The stock has a market cap of $93.77 billion, a P/E ratio of -11.77 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results 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 company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) EPS. Analysts predict that The Boeing Company will post -16.09 earnings per share for the current 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.