RPG Investment Advisory LLC Sells 9,678 Shares of The Boeing Company (NYSE:BA)

RPG Investment Advisory LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,171 shares of the aircraft producer’s stock after selling 9,678 shares during the quarter. RPG Investment Advisory LLC’s holdings in Boeing were worth $8,540,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Boeing in the second quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the second quarter valued at $39,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Boeing in the first quarter valued at $53,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Boeing stock opened at $145.17 on Wednesday. The Boeing Company has a 12 month low of $143.85 and a 12 month high of $267.54. The stock’s 50 day simple moving average is $154.81 and its two-hundred day simple moving average is $170.26.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during 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 period last year, the firm posted ($3.26) earnings per share. As a group, equities research analysts expect that The Boeing Company will post -16.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BA shares. JPMorgan Chase & Co. cut their target price 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. The Goldman Sachs Group decreased their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Susquehanna decreased their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a report on Thursday, October 24th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $190.37.

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.