Cedar Wealth Management LLC Takes $30,000 Position in The Boeing Company (NYSE:BA)

Cedar Wealth Management LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the third quarter, Holdings Channel reports. The fund bought 200 shares of the aircraft producer’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in Boeing during the second quarter valued at $34,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Boeing in the second quarter worth approximately $39,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Boeing in the first quarter valued at approximately $53,000. Institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reduced their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley cut their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.37.

Boeing Stock Performance

BA opened at $145.58 on Wednesday. The stock’s 50 day moving average price is $152.53 and its 200-day moving average price is $168.95. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54. The stock has a market capitalization of $90.00 billion, a PE ratio of -11.29 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the company posted ($3.26) earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts forecast that The Boeing Company will post -16.2 EPS 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.