Northcape Wealth Management LLC Sells 195 Shares of The Boeing Company (NYSE:BA)

Northcape Wealth Management LLC trimmed its position in The Boeing Company (NYSE:BA) by 5.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,514 shares of the aircraft producer’s stock after selling 195 shares during the period. Northcape Wealth Management LLC’s holdings in Boeing were worth $534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in shares of Boeing during the 2nd quarter valued at $34,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Boeing in the 2nd quarter worth $39,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Boeing during the second quarter worth $41,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BA shares. Morgan Stanley reduced their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $190.37.

Boeing Price Performance

Shares of NYSE:BA opened at $140.18 on Friday. The stock has a market capitalization of $86.66 billion, a PE ratio of -10.87 and a beta of 1.57. The company’s 50-day moving average price is $153.20 and its two-hundred day moving average price is $169.44. The Boeing Company has a one year low of $137.03 and a one year high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.26) EPS. On average, analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Boeing Company 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.