Tandem Capital Management Corp ADV Acquires 595 Shares of The Boeing Company (NYSE:BA)

Tandem Capital Management Corp ADV boosted its holdings in The Boeing Company (NYSE:BA) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,364 shares of the aircraft producer’s stock after purchasing an additional 595 shares during the period. Tandem Capital Management Corp ADV’s holdings in Boeing were worth $1,272,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in shares of Boeing by 84.6% in the third quarter. JFS Wealth Advisors LLC now owns 3,920 shares of the aircraft producer’s stock worth $596,000 after buying an additional 1,797 shares during the period. SteelPeak Wealth LLC grew its position in Boeing by 7.9% during the 3rd quarter. SteelPeak Wealth LLC now owns 14,572 shares of the aircraft producer’s stock worth $2,216,000 after acquiring an additional 1,063 shares during the last quarter. Diversify Wealth Management LLC increased its stake in Boeing by 28.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 5,889 shares of the aircraft producer’s stock worth $925,000 after purchasing an additional 1,301 shares during the period. Pinnacle Associates Ltd. lifted its position in Boeing by 6.6% in the third quarter. Pinnacle Associates Ltd. now owns 62,278 shares of the aircraft producer’s stock valued at $9,469,000 after purchasing an additional 3,869 shares during the last quarter. Finally, Edge Financial Advisors LLC purchased a new stake in shares of Boeing during the third quarter valued at approximately $264,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of several analyst reports. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $169.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. TD Cowen reduced their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Citigroup dropped their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $190.42.

Boeing Stock Performance

Shares of NYSE BA opened at $154.24 on Thursday. The company has a 50 day simple moving average of $158.34 and a two-hundred day simple moving average of $171.24. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The company has a market capitalization of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

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.