BNC Wealth Management LLC Has $701,000 Stake in The Boeing Company (NYSE:BA)

BNC Wealth Management LLC cut its stake in shares of The Boeing Company (NYSE:BA) by 11.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,612 shares of the aircraft producer’s stock after selling 615 shares during the quarter. BNC Wealth Management LLC’s holdings in Boeing were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Forte Capital LLC ADV boosted its holdings in Boeing by 14.9% in the third quarter. Forte Capital LLC ADV now owns 2,694 shares of the aircraft producer’s stock valued at $410,000 after acquiring an additional 350 shares during the last quarter. Spinnaker Trust lifted its position in shares of Boeing by 17.4% in the 3rd quarter. Spinnaker Trust now owns 1,618 shares of the aircraft producer’s stock worth $246,000 after purchasing an additional 240 shares during the period. Canal Insurance CO bought a new stake in shares of Boeing in the 3rd quarter valued at $1,520,000. Catalina Capital Group LLC increased its position in shares of Boeing by 17.1% during the third quarter. Catalina Capital Group LLC now owns 1,446 shares of the aircraft producer’s stock worth $220,000 after buying an additional 211 shares during the period. Finally, Focused Wealth Management Inc bought a new position in Boeing during the third quarter worth $461,000. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Stifel Nicolaus upped their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Down 2.5 %

BA stock opened at $147.18 on Thursday. The firm has a market capitalization of $90.99 billion, a PE ratio of -11.41 and a beta of 1.57. The stock’s 50 day moving average is $156.17 and its 200-day moving average is $170.60. The Boeing Company has a twelve month low of $144.13 and a twelve month high of $267.54.

Boeing (NYSE:BA) last announced its 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 firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company posted ($3.26) EPS. Boeing’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Boeing Company will post -16.13 earnings per share for the current fiscal 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.