Wealth Alliance Advisory Group LLC Raises Stake in The Boeing Company (NYSE:BA)

Wealth Alliance Advisory Group LLC raised its position in The Boeing Company (NYSE:BA) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,933 shares of the aircraft producer’s stock after purchasing an additional 135 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Boeing were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BA. Hobbs Group Advisors LLC acquired a new stake in Boeing in the second quarter valued at $34,000. McClarren Financial Advisors Inc. raised its position in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in 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 in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing in the second quarter valued at approximately $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock opened at $155.00 on Friday. The stock’s 50 day moving average price is $161.10 and its 200 day moving average price is $172.53. The company has a market cap of $95.15 billion, a PE ratio of -43.66 and a beta of 1.57. The Boeing Company has a 1-year low of $146.02 and a 1-year high of $267.54.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BA. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, October 15th. Sanford C. Bernstein reduced their target price on Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus lifted their price target on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $198.79.

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.