Great Valley Advisor Group Inc. Decreases Stock Position in The Boeing Company (NYSE:BA)

Great Valley Advisor Group Inc. decreased its holdings in The Boeing Company (NYSE:BA) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the aircraft producer’s stock after selling 6,077 shares during the period. Great Valley Advisor Group Inc.’s holdings in Boeing were worth $2,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BA. Madison Park Capital Advisors LLC grew its holdings in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC increased its stake in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after buying an additional 60 shares in the last quarter. IMS Capital Management raised its holdings in shares of Boeing by 0.4% during the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the last quarter. ADE LLC lifted its holdings in Boeing by 4.4% in the 2nd quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock valued at $280,000 after purchasing an additional 65 shares in the last quarter. Finally, Peoples Financial Services CORP. lifted its stake in shares of Boeing by 0.8% in the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BA. Deutsche Bank Aktiengesellschaft cut their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $190.37.

Boeing Price Performance

NYSE:BA opened at $149.29 on Monday. The firm has a market capitalization of $92.29 billion, a PE ratio of -11.57 and a beta of 1.57. The business’s fifty day moving average price is $151.70 and its 200 day moving average price is $168.27. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($3.26) earnings per share. As a group, equities analysts anticipate that The Boeing Company will post -16.2 EPS for the current year.

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.