Spectrum Financial Alliance Ltd LLC Grows Stake in The Boeing Company (NYSE:BA)

Spectrum Financial Alliance Ltd LLC increased its holdings in The Boeing Company (NYSE:BA) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,490 shares of the aircraft producer’s stock after purchasing an additional 29,115 shares during the period. Boeing makes up 14.4% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 4th biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Boeing were worth $40,365,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of Boeing during the 2nd quarter worth about $34,000. McClarren Financial Advisors Inc. boosted its position in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the period. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing in the second quarter worth $39,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley decreased their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Finally, Sanford C. Bernstein cut their price target on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $198.79.

Boeing Price Performance

Boeing stock opened at $155.00 on Friday. The business has a 50 day simple moving average of $161.10 and a 200 day simple moving average of $172.53. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The company has a market capitalization of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.82) EPS. Equities analysts anticipate that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.