Alpha Cubed Investments LLC Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Alpha Cubed Investments LLC lowered its position in The Boeing Company (NYSE:BA) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,627 shares of the aircraft producer’s stock after selling 942 shares during the period. Alpha Cubed Investments LLC’s holdings in Boeing were worth $1,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Evolution Advisers Inc. purchased a new position in shares of Boeing during the 4th quarter worth approximately $28,000. CNB Bank increased its stake in shares of Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Naples Money Management LLC purchased a new position in shares of Boeing during the 4th quarter worth approximately $44,000. M&R Capital Management Inc. increased its stake in shares of Boeing by 35.0% during the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 50 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new position in shares of Boeing during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $167.70 on Wednesday. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The business has a 50 day simple moving average of $185.21 and a 200 day simple moving average of $206.38.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.75) EPS. On average, equities research analysts predict that The Boeing Company will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on BA. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday. Melius Research reaffirmed a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Barclays dropped their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Sanford C. Bernstein cut their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $222.41.

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.