Core Wealth Partners LLC Trims Holdings in The Boeing Company (NYSE:BA)

Core Wealth Partners LLC lessened its stake in The Boeing Company (NYSE:BA) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,489 shares of the aircraft producer’s stock after selling 220 shares during the period. Boeing comprises about 1.3% of Core Wealth Partners LLC’s investment portfolio, making the stock its 16th largest position. Core Wealth Partners LLC’s holdings in Boeing were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in Boeing during the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. bought a new position in Boeing during the second quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in 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 during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Boeing in the second quarter worth $39,000. Finally, Pathway Financial Advisers LLC bought a new stake in Boeing during the first quarter valued at $53,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Citigroup lowered their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research report on Thursday, October 24th. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Hold” and an average price target of $190.37.

Boeing Stock Up 0.6 %

Shares of Boeing stock opened at $152.62 on Monday. The business has a fifty day simple moving average of $155.31 and a 200-day simple moving average of $170.39. The Boeing Company has a fifty-two week low of $144.13 and a fifty-two week high of $267.54. The firm has a market cap of $94.35 billion, a price-to-earnings ratio of -11.76 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.26) EPS. Analysts anticipate that The Boeing Company will post -16.09 earnings per share 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.