Westside Investment Management Inc. Cuts Holdings in The Boeing Company (NYSE:BA)

Westside Investment Management Inc. cut its position in shares of The Boeing Company (NYSE:BA) by 22.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,496 shares of the aircraft producer’s stock after selling 1,870 shares during the quarter. Westside Investment Management Inc.’s holdings in Boeing were worth $1,028,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BA. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter worth about $34,000. RPg Family Wealth Advisory LLC acquired a new position in Boeing during the 3rd quarter worth approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the 2nd quarter worth approximately $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the third quarter valued at approximately $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BA shares. Morgan Stanley lowered their price objective 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. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $190.11.

Boeing Stock Performance

Shares of BA opened at $165.96 on Thursday. The Boeing Company has a one year low of $137.03 and a one year high of $267.54. The stock’s fifty day moving average is $151.89 and its 200-day moving average is $166.15. The firm has a market capitalization of $102.60 billion, a price-to-earnings ratio of -12.87 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($3.26) EPS. Analysts forecast that The Boeing Company will post -16.18 EPS for the current fiscal 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.