Prime Capital Investment Advisors LLC Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Prime Capital Investment Advisors LLC lessened its stake in shares of The Boeing Company (NYSE:BA) by 36.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 25,327 shares of the aircraft producer’s stock after selling 14,640 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Boeing were worth $4,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the 4th quarter worth $26,000. Vima LLC purchased a new position in Boeing during the fourth quarter worth about $34,000. Accent Capital Management LLC acquired a new stake in Boeing in the fourth quarter valued at about $39,000. Frank Rimerman Advisors LLC acquired a new stake in Boeing in the fourth quarter valued at about $48,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Boeing in the 2nd quarter valued at approximately $34,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on BA. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company reissued an “underweight” rating and issued a $119.00 target price (down previously from $185.00) on shares of Boeing in a report on Tuesday, September 3rd. UBS Group lowered their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Bank of America raised their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, June 13th. Finally, Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Trading Down 3.7 %

Shares of BA stock opened at $156.77 on Monday. The company has a market capitalization of $96.60 billion, a price-to-earnings ratio of -44.16 and a beta of 1.57. The firm has a 50-day moving average price of $174.10 and a 200 day moving average price of $179.04. The Boeing Company has a twelve month low of $155.60 and a twelve month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the company posted ($0.82) earnings per share. Boeing’s revenue was down 14.6% on a year-over-year basis. As a group, research analysts predict that The Boeing Company will post -4.26 earnings per share 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.