Apollon Wealth Management LLC Has $3.10 Million Position in The Boeing Company (NYSE:BA)

Apollon Wealth Management LLC cut its position in shares of The Boeing Company (NYSE:BA) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 20,416 shares of the aircraft producer’s stock after selling 676 shares during the quarter. Apollon Wealth Management LLC’s holdings in Boeing were worth $3,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Dearborn Partners LLC lifted its position in shares of Boeing by 13.3% in the first quarter. Dearborn Partners LLC now owns 4,065 shares of the aircraft producer’s stock valued at $785,000 after buying an additional 478 shares during the last quarter. TD Asset Management Inc boosted its position in Boeing by 7.7% during the first quarter. TD Asset Management Inc now owns 379,344 shares of the aircraft producer’s stock worth $73,210,000 after purchasing an additional 27,024 shares during the period. Angeles Wealth Management LLC increased its holdings in shares of Boeing by 4.2% in the first quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the last quarter. Delta Investment Management LLC bought a new position in shares of Boeing in the first quarter valued at about $350,000. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Boeing by 12.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 24,892 shares of the aircraft producer’s stock worth $4,804,000 after buying an additional 2,728 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Down 2.5 %

Shares of Boeing stock opened at $145.17 on Wednesday. The stock has a market cap of $89.74 billion, a price-to-earnings ratio of -11.25 and a beta of 1.57. The Boeing Company has a twelve month low of $143.85 and a twelve month high of $267.54. The company’s fifty day moving average is $154.81 and its 200 day moving average is $170.26.

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

Analyst Ratings Changes

Several brokerages have issued reports on BA. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. dropped their price target 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 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. Morgan Stanley reduced their target price on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group lowered their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Hold” and an average target price 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.