Encompass Wealth Advisors LLC Sells 140 Shares of The Boeing Company (NYSE:BA)

Encompass Wealth Advisors LLC cut its stake in The Boeing Company (NYSE:BA) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,346 shares of the aircraft producer’s stock after selling 140 shares during the period. Encompass Wealth Advisors LLC’s holdings in Boeing were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC grew its position in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. increased 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 valued at $9,596,383,000 after buying an additional 1,222,816 shares during the last quarter. Wulff Hansen & CO. boosted its stake in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after buying an additional 960,993 shares during the last quarter. Finally, Newport Trust Company LLC boosted its stake in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Down 2.5 %

Shares of NYSE:BA opened at $145.17 on Wednesday. The Boeing Company has a 12-month low of $143.85 and a 12-month high of $267.54. The company’s 50 day moving average price is $154.49 and its two-hundred day moving average price is $170.11. The firm has a market cap of $89.74 billion, a PE ratio of -11.25 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts expect that The Boeing Company will post -16.09 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Wells Fargo & Company cut their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $190.37.

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.