Savvy Advisors Inc. Buys 1,642 Shares of The Boeing Company (NYSE:BA)

Savvy Advisors Inc. lifted its position in The Boeing Company (NYSE:BA) by 108.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,154 shares of the aircraft producer’s stock after acquiring an additional 1,642 shares during the quarter. Savvy Advisors Inc.’s holdings in Boeing were worth $479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at approximately $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Boeing during the 2nd quarter worth approximately $39,000. Finally, Strategic Financial Concepts LLC purchased a new position in Boeing in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BA shares. JPMorgan Chase & Co. lowered their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Susquehanna dropped their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Three 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

BA stock opened at $145.17 on Wednesday. The firm has a 50 day moving average price of $154.81 and a 200-day moving average price of $170.26. The Boeing Company has a 52-week low of $143.85 and a 52-week high of $267.54. The firm has a market capitalization of $89.74 billion, a price-to-earnings ratio of -11.25 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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.