Pekin Hardy Strauss Inc. Sells 1,300 Shares of The Boeing Company (NYSE:BA)

Pekin Hardy Strauss Inc. lessened its position in shares of The Boeing Company (NYSE:BA) by 46.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,520 shares of the aircraft producer’s stock after selling 1,300 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Boeing were worth $231,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in Boeing during the 2nd quarter worth approximately $34,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the second quarter worth $33,000. Cedar Wealth Management LLC bought a new position in shares of Boeing in the 3rd quarter valued at $30,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings 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 in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing in the second quarter valued at about $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reduced their price target on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.11.

Boeing Trading Up 2.5 %

NYSE BA opened at $153.08 on Tuesday. The company has a fifty day simple moving average of $151.65 and a 200 day simple moving average of $168.08. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54. The company has a market cap of $94.63 billion, a P/E ratio of -11.87 and a beta of 1.57.

Boeing (NYSE:BA) last posted 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 previous year, the firm posted ($3.26) earnings per share. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that The Boeing Company will post -16.2 EPS for the current 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.