IVC Wealth Advisors LLC Cuts Stock Position in The Boeing Company (NYSE:BA)

IVC Wealth Advisors LLC lowered its holdings in The Boeing Company (NYSE:BA) by 51.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,026 shares of the aircraft producer’s stock after selling 2,179 shares during the period. IVC Wealth Advisors LLC’s holdings in Boeing were worth $391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Boeing during the 4th quarter valued at $26,000. Evolution Advisers Inc. purchased a new position in shares of Boeing during the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Boeing during the 4th quarter valued at $28,000. Vima LLC purchased a new position in shares of Boeing during the 4th quarter valued at $34,000. Finally, Accent Capital Management LLC purchased a new position in shares of Boeing during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Susquehanna reiterated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, May 15th. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Argus lowered Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Robert W. Baird decreased their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Price Performance

BA stock traded down $1.11 on Wednesday, reaching $184.31. 2,763,951 shares of the company traded hands, compared to its average volume of 8,480,307. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company has a market cap of $113.14 billion, a P/E ratio of -51.68 and a beta of 1.56. The firm has a fifty day simple moving average of $179.14 and a 200-day simple moving average of $197.01.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. On average, sell-side analysts forecast that The Boeing Company will post -1.67 EPS for the current 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.