Geneos Wealth Management Inc. Reduces Stock Position in The Boeing Company (NYSE:BA)

Geneos Wealth Management Inc. reduced its holdings in shares of The Boeing Company (NYSE:BA) by 17.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,672 shares of the aircraft producer’s stock after selling 1,235 shares during the period. Geneos Wealth Management Inc.’s holdings in Boeing were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. AdvisorNet Financial Inc grew its holdings in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Principal Financial Group Inc. grew its stake in Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BA. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $192.11.

Boeing Stock Down 0.6 %

BA stock opened at $175.09 on Tuesday. The company has a 50-day simple moving average of $166.42 and a 200 day simple moving average of $164.29. The company has a market capitalization of $108.24 billion, a P/E ratio of -13.57 and a beta of 1.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $214.63.

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.