Adell Harriman & Carpenter Inc. Has $265,000 Stock Holdings in The Boeing Company (NYSE:BA)

Adell Harriman & Carpenter Inc. reduced its holdings in shares of The Boeing Company (NYSE:BA) by 26.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,743 shares of the aircraft producer’s stock after selling 635 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Boeing were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing during the second quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Boeing in the 2nd quarter valued at $39,000. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BA. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group dropped their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $190.42.

Boeing Price Performance

Boeing stock opened at $154.24 on Thursday. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The firm has a market capitalization of $94.69 billion, a P/E ratio of -43.45 and a beta of 1.57. The business has a fifty day moving average price of $158.34 and a 200-day moving average price of $171.24.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 in the previous year, the firm earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect 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.