Absher Wealth Management LLC Cuts Holdings in The Boeing Company (NYSE:BA)

Absher Wealth Management LLC reduced its position in shares of The Boeing Company (NYSE:BA) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,552 shares of the aircraft producer’s stock after selling 4,964 shares during the quarter. Boeing accounts for approximately 2.1% of Absher Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Absher Wealth Management LLC’s holdings in Boeing were worth $16,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BA. Sterneck Capital Management LLC increased its position in shares of Boeing by 2.3% in the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock valued at $530,000 after buying an additional 66 shares in the last quarter. Peoples Financial Services CORP. boosted its holdings in Boeing by 0.8% in the 3rd 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 during the last quarter. GSG Advisors LLC increased its stake in Boeing by 4.7% during the 4th quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock worth $264,000 after buying an additional 67 shares in the last quarter. Bay Rivers Group raised its holdings in shares of Boeing by 1.0% during the fourth quarter. Bay Rivers Group now owns 7,416 shares of the aircraft producer’s stock valued at $1,313,000 after acquiring an additional 70 shares during the last quarter. Finally, Altus Wealth Group LLC lifted its position in shares of Boeing by 5.7% in the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after acquiring an additional 71 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Finally, Susquehanna upped their price target on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Boeing Stock Performance

Shares of BA stock opened at $181.80 on Thursday. The company has a market cap of $112.39 billion, a PE ratio of -9.92 and a beta of 1.52. The stock’s fifty day moving average price is $170.47 and its two-hundred day moving average price is $164.00. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $213.77.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the company posted ($0.47) EPS. On average, equities analysts predict that The Boeing Company will post -2.12 EPS for the current fiscal 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.