The Boeing Company (NYSE:BA) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its holdings in shares of The Boeing Company (NYSE:BA) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,778 shares of the aircraft producer’s stock after selling 5,057 shares during the quarter. Wedbush Securities Inc.’s holdings in Boeing were worth $8,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the 4th quarter valued at about $26,000. Vima LLC acquired a new stake in shares of Boeing in the fourth quarter worth approximately $34,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing in the second quarter worth approximately $34,000. McClarren Financial Advisors Inc. increased its position in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Bfsg LLC purchased a new position in Boeing during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BA. Robert W. Baird lowered their price target on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 price target (down from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Bank of America increased their price objective on shares of Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.29.

Boeing Stock Up 3.2 %

Boeing stock opened at $162.70 on Monday. The Boeing Company has a 12-month low of $156.70 and a 12-month high of $267.54. The stock has a 50-day simple moving average of $176.53 and a 200 day simple moving average of $180.50.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the company posted ($0.82) EPS. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts anticipate that The Boeing Company will post -4.26 EPS for the current year.

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.