The Boeing Company (NYSE:BA) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 18.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,876 shares of the aircraft producer’s stock after selling 3,081 shares during the period. Axxcess Wealth Management LLC’s holdings in Boeing were worth $2,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BA. Capital Research Global Investors grew its stake in Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after buying an additional 4,425,964 shares during the period. Jennison Associates LLC acquired a new position in Boeing during the 4th quarter worth approximately $960,397,000. Wellington Management Group LLP boosted its holdings in Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its position in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Boeing by 861.6% during the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after purchasing an additional 1,617,151 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Bank of America lifted their price target on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, June 13th. Susquehanna reiterated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research note on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and issued a $240.00 target price on shares of Boeing in a research note on Wednesday, May 15th. Finally, UBS Group decreased their price target on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Stock Performance

Shares of BA stock traded up $2.54 during mid-day trading on Friday, hitting $186.89. 6,196,332 shares of the stock traded hands, compared to its average volume of 8,158,881. The firm has a market cap of $114.73 billion, a price-to-earnings ratio of -52.50 and a beta of 1.56. The company’s 50-day simple moving average is $181.70 and its 200-day simple moving average is $189.05. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. Analysts forecast that The Boeing Company will post -2.27 earnings per share 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.