Horizon Wealth Management LLC Acquires 1,000 Shares of The Boeing Company (NYSE:BA)

Horizon Wealth Management LLC increased its holdings in shares of The Boeing Company (NYSE:BA) by 30.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,324 shares of the aircraft producer’s stock after purchasing an additional 1,000 shares during the period. Horizon Wealth Management LLC’s holdings in Boeing were worth $765,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing during the third quarter valued at $28,000. Cedar Wealth Management LLC bought a new stake in shares of Boeing in the 3rd quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter worth $33,000. Planning Capital Management Corp lifted its holdings in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Boeing by 325.4% during the second quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock valued at $55,000 after acquiring an additional 231 shares during the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BA. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Susquehanna dropped their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup decreased their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Performance

BA stock traded down $1.44 during midday trading on Monday, reaching $170.56. 6,003,681 shares of the company’s stock traded hands, compared to its average volume of 8,544,258. The company has a 50-day moving average price of $161.39 and a two-hundred day moving average price of $165.16. The firm has a market capitalization of $105.44 billion, a PE ratio of -13.22 and a beta of 1.52. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $217.59.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted ($3.26) earnings per share. As a group, analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal 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.