Sargent Investment Group LLC Lowers Stock Position in The Boeing Company (NYSE:BA)

Sargent Investment Group LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 73.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,189 shares of the aircraft producer’s stock after selling 3,286 shares during the quarter. Sargent Investment Group LLC’s holdings in Boeing were worth $216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC raised its holdings in Boeing by 869.1% during the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock valued at $4,395,000 after acquiring an additional 20,425 shares during the period. Park Avenue Securities LLC raised its stake in Boeing by 20.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock valued at $2,035,000 after purchasing an additional 1,805 shares during the period. Williams Financial LLC purchased a new position in Boeing in the 2nd quarter worth approximately $1,637,000. Granite Bay Wealth Management LLC bought a new position in Boeing in the 2nd quarter worth approximately $561,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Boeing by 115.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 14,637 shares of the aircraft producer’s stock valued at $2,825,000 after buying an additional 7,848 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Up 0.5 %

BA stock opened at $156.38 on Wednesday. The Boeing Company has a 12 month low of $154.02 and a 12 month high of $267.54. The stock has a market cap of $96.00 billion, a PE ratio of -44.05 and a beta of 1.57. The company has a 50-day moving average price of $172.95 and a 200 day moving average price of $178.39.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter last year, the company posted ($0.82) earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. Sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Susquehanna reiterated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Wells Fargo & Company reissued an “underweight” rating and set a $119.00 price objective (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Baird R W upgraded Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.