Edge Wealth Management LLC Sells 507 Shares of The Boeing Company (NYSE:BA)

Edge Wealth Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,390 shares of the aircraft producer’s stock after selling 507 shares during the quarter. Edge Wealth Management LLC’s holdings in Boeing were worth $423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the 3rd quarter worth about $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the 3rd quarter worth approximately $30,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the 2nd quarter valued at approximately $33,000. Planning Capital Management Corp raised its stake in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Boeing in the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 1.6 %

Shares of BA stock opened at $168.91 on Friday. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The stock has a market cap of $104.42 billion, a P/E ratio of -13.09 and a beta of 1.52. The company has a 50 day simple moving average of $162.40 and a two-hundred day simple moving average of $164.98.

Boeing (NYSE:BA) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned ($3.26) EPS. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -16.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BA. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $190.00 to $210.00 in a report on Monday, January 6th. The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Wells Fargo & Company cut their target price on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Two 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.21.

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.