Drive Wealth Management LLC Has $203,000 Stake in The Boeing Company (NYSE:BA)

Drive Wealth Management LLC reduced its stake in shares of The Boeing Company (NYSE:BA) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,148 shares of the aircraft producer’s stock after selling 264 shares during the quarter. Drive Wealth Management LLC’s holdings in Boeing were worth $203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the period. Geode Capital Management LLC increased its position in shares of Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares in the last quarter. Jennison Associates LLC raised its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the period. Fisher Asset Management LLC lifted its holdings in Boeing by 6.0% during the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after acquiring an additional 277,350 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Boeing by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after acquiring an additional 48,637 shares during the period. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

Shares of BA stock opened at $175.09 on Tuesday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $214.63. The stock has a market cap of $108.24 billion, a price-to-earnings ratio of -13.57 and a beta of 1.52. The firm’s 50-day moving average is $166.42 and its 200-day moving average is $164.29.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BA shares. Wells Fargo & Company dropped their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. TD Cowen cut their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Finally, Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

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.