The Boeing Company (NYSE:BA) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its position in The Boeing Company (NYSE:BA) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,535 shares of the aircraft producer’s stock after selling 2,557 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Boeing were worth $10,045,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Walden Wealth Partners LLC acquired a new position in shares of Boeing in the fourth quarter valued at about $1,001,000. Ables Iannone Moore & Associates Inc. purchased a new position in Boeing during the fourth quarter worth approximately $359,000. Leo Wealth LLC purchased a new position in Boeing during the fourth quarter worth approximately $529,000. Sivia Capital Partners LLC purchased a new position in Boeing during the fourth quarter worth approximately $261,000. Finally, Spartan Planning & Wealth Management boosted its position in Boeing by 384.2% during the fourth quarter. Spartan Planning & Wealth Management now owns 552 shares of the aircraft producer’s stock worth $144,000 after purchasing an additional 438 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE BA traded up $1.12 on Monday, hitting $178.39. 4,766,541 shares of the company’s stock were exchanged, compared to its average volume of 8,664,084. The firm’s 50-day moving average price is $177.44 and its two-hundred day moving average price is $202.43. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. Research analysts expect that The Boeing Company will post -1.48 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. Susquehanna reissued a “positive” rating and set a $230.00 target price on shares of Boeing in a research note on Wednesday, May 15th. Barclays dropped their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Morgan Stanley dropped their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Boeing in a research note on Wednesday, May 15th. Finally, Sanford C. Bernstein dropped their price objective on Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.89.

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.