Northeast Financial Consultants Inc Decreases Holdings in The Boeing Company (NYSE:BA)

Northeast Financial Consultants Inc decreased its holdings in The Boeing Company (NYSE:BA) by 3.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,737 shares of the aircraft producer’s stock after selling 100 shares during the period. Northeast Financial Consultants Inc’s holdings in Boeing were worth $498,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing in the fourth quarter worth about $26,000. Vima LLC bought a new position in Boeing during the 4th quarter worth approximately $34,000. Accent Capital Management LLC purchased a new position in Boeing in the 4th quarter worth approximately $39,000. Frank Rimerman Advisors LLC bought a new stake in Boeing in the 4th quarter worth $48,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Boeing in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.1 %

BA stock opened at $156.32 on Friday. The business has a 50 day moving average of $168.52 and a 200 day moving average of $176.15. The firm has a market cap of $95.96 billion, a PE ratio of -44.03 and a beta of 1.57. The Boeing Company has a twelve month low of $151.65 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the firm earned ($0.82) EPS. Boeing’s quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts expect that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BA shares. Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Bank of America lifted their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Robert W. Baird decreased their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Jefferies Financial Group decreased their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $209.83.

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.