Nations Financial Group Inc. IA ADV Cuts Stake in The Boeing Company (NYSE:BA)

Nations Financial Group Inc. IA ADV cut its holdings in shares of The Boeing Company (NYSE:BA) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,045 shares of the aircraft producer’s stock after selling 354 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Boeing were worth $615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC lifted its stake in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after acquiring an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after acquiring an additional 106,513 shares during the last quarter. Legal & General Group Plc boosted its holdings in Boeing by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares during the period. Finally, Van ECK Associates Corp grew its position in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Shares of Boeing stock opened at $139.98 on Thursday. The Boeing Company has a 1 year low of $139.10 and a 1 year high of $267.54. The firm has a market cap of $86.54 billion, a price-to-earnings ratio of -10.85 and a beta of 1.57. The company has a 50-day moving average of $154.49 and a 200 day moving average of $170.11.

Boeing (NYSE:BA) last announced 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 for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Benchmark reissued a “buy” rating and set a $250.00 price target on shares of Boeing in a research report on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Finally, Susquehanna cut their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $190.37.

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.