Golden State Equity Partners Reduces Stock Holdings in The Boeing Company (NYSE:BA)

Golden State Equity Partners lowered its position in The Boeing Company (NYSE:BA) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,747 shares of the aircraft producer’s stock after selling 72 shares during the quarter. Golden State Equity Partners’ holdings in Boeing were worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. CNB Bank increased its stake in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Boeing in the fourth quarter valued at approximately $28,000. Lowe Wealth Advisors LLC purchased a new position in shares of Boeing during the third quarter worth approximately $43,000. Naples Money Management LLC purchased a new position in shares of Boeing during the fourth quarter worth approximately $44,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Boeing by 66.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock worth $45,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.2 %

Shares of BA traded up $0.41 during midday trading on Friday, reaching $167.22. 7,208,103 shares of the stock were exchanged, compared to its average volume of 7,379,195. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The firm has a 50 day simple moving average of $186.53 and a 200-day simple moving average of $206.46. The company has a market cap of $102.65 billion, a price-to-earnings ratio of -47.12, a P/E/G ratio of 140.08 and a beta of 1.52.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.75) EPS. Research analysts expect that The Boeing Company will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Benchmark reaffirmed a “buy” rating and set a $250.00 price target on shares of Boeing in a report on Tuesday, March 26th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Stifel Nicolaus decreased their price target on Boeing from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, Sanford C. Bernstein decreased their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

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.