NewEdge Wealth LLC Sells 71 Shares of The Boeing Company (NYSE:BA)

NewEdge Wealth LLC cut its holdings in The Boeing Company (NYSE:BA) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,195 shares of the aircraft producer’s stock after selling 71 shares during the quarter. NewEdge Wealth LLC’s holdings in Boeing were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BA. Curtis Advisory Group LLC bought a new stake in Boeing during the fourth quarter worth about $258,000. Morris Financial Concepts Inc. bought a new stake in shares of Boeing during the 4th quarter worth approximately $207,000. Lodestar Private Asset Management LLC acquired a new stake in shares of Boeing in the 4th quarter valued at approximately $204,000. Citizens National Bank Trust Department grew its stake in shares of Boeing by 9.2% in the fourth quarter. Citizens National Bank Trust Department now owns 14,122 shares of the aircraft producer’s stock valued at $3,681,000 after buying an additional 1,189 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in Boeing during the fourth quarter worth $767,000. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. JPMorgan Chase & Co. lowered their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research report on Tuesday, March 26th. Finally, Bank of America decreased their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.88.

Boeing Stock Performance

BA stock opened at $170.55 on Wednesday. The Boeing Company has a 52 week low of $167.53 and a 52 week high of $267.54. The company’s 50-day simple moving average is $192.69 and its 200 day simple moving average is $207.80. The company has a market capitalization of $104.06 billion, a PE ratio of -46.34, a price-to-earnings-growth ratio of 115.71 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the company earned ($1.75) EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts forecast that The Boeing Company will post 0.37 EPS for the current 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.