Adell Harriman & Carpenter Inc. Sells 635 Shares of The Boeing Company (NYSE:BA)

Adell Harriman & Carpenter Inc. cut its holdings in The Boeing Company (NYSE:BA) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,743 shares of the aircraft producer’s stock after selling 635 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Boeing were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BA. Madison Park Capital Advisors LLC grew its position in Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after acquiring an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in shares of Boeing by 1.6% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock worth $691,000 after purchasing an additional 60 shares during the period. Angeles Wealth Management LLC increased its position in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the last quarter. IMS Capital Management raised its holdings in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock worth $1,459,000 after buying an additional 65 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Hold” and a consensus target price of $190.42.

Boeing Stock Up 0.8 %

Boeing stock opened at $154.24 on Thursday. The firm has a market cap of $94.69 billion, a P/E ratio of -43.45 and a beta of 1.57. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The business has a fifty day moving average of $158.34 and a two-hundred day moving average of $171.24.

Boeing (NYSE:BA) last announced its earnings results 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 business had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.26) EPS. Equities analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

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.