Arete Wealth Advisors LLC Acquires New Shares in The Boeing Company (NYSE:BA)

Arete Wealth Advisors LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,246 shares of the aircraft producer’s stock, valued at approximately $1,102,000.

A number of other institutional investors also recently bought and sold shares of BA. Lantz Financial LLC grew its holdings in Boeing by 109.7% during the 2nd quarter. Lantz Financial LLC now owns 2,695 shares of the aircraft producer’s stock valued at $491,000 after buying an additional 1,410 shares during the last quarter. Diversified Trust Co raised its stake in Boeing by 27.2% in the 2nd quarter. Diversified Trust Co now owns 2,672 shares of the aircraft producer’s stock valued at $486,000 after purchasing an additional 572 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Boeing by 19.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,425 shares of the aircraft producer’s stock valued at $3,172,000 after purchasing an additional 2,788 shares in the last quarter. Welch Group LLC boosted its stake in shares of Boeing by 24.1% during the 2nd quarter. Welch Group LLC now owns 2,619 shares of the aircraft producer’s stock worth $477,000 after purchasing an additional 509 shares during the last quarter. Finally, Bar Harbor Wealth Management purchased a new stake in shares of Boeing during the second quarter worth about $203,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. 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 report on Thursday, October 24th. UBS Group reduced their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Trading Up 1.1 %

Shares of NYSE BA opened at $165.96 on Thursday. The stock has a fifty day moving average price of $151.89 and a 200 day moving average price of $166.15. The company has a market cap of $102.60 billion, a P/E ratio of -12.87 and a beta of 1.56. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54.

Boeing (NYSE:BA) last released its quarterly 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 company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -16.18 EPS 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.