Stone Summit Wealth LLC Trims Stake in The Boeing Company (NYSE:BA)

Stone Summit Wealth LLC trimmed its position in The Boeing Company (NYSE:BA) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,850 shares of the aircraft producer’s stock after selling 116 shares during the quarter. Stone Summit Wealth LLC’s holdings in Boeing were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. HTLF Bank boosted its stake in shares of Boeing by 23.1% during the fourth quarter. HTLF Bank now owns 2,734 shares of the aircraft producer’s stock valued at $484,000 after purchasing an additional 513 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Boeing during the fourth quarter worth $581,000. Stephens Inc. AR boosted its position in Boeing by 18.2% during the 4th quarter. Stephens Inc. AR now owns 48,665 shares of the aircraft producer’s stock valued at $8,614,000 after acquiring an additional 7,505 shares in the last quarter. Chaney Capital Management Inc. increased its holdings in shares of Boeing by 2.1% in the 4th quarter. Chaney Capital Management Inc. now owns 2,870 shares of the aircraft producer’s stock valued at $508,000 after acquiring an additional 58 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of Boeing in the 4th quarter worth $2,781,000. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, October 15th. Finally, Susquehanna increased their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.00.

Boeing Price Performance

NYSE:BA opened at $181.51 on Monday. The company’s fifty day moving average price is $172.22 and its 200-day moving average price is $164.13. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $213.10. The firm has a market capitalization of $136.14 billion, a P/E ratio of -9.91 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. Equities analysts anticipate that The Boeing Company will post -2.3 EPS for the current fiscal 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.