Kovack Advisors Inc. Lowers Stock Holdings in The Boeing Company (NYSE:BA)

Kovack Advisors Inc. reduced its position in shares of The Boeing Company (NYSE:BA) by 15.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,794 shares of the aircraft producer’s stock after selling 693 shares during the period. Kovack Advisors Inc.’s holdings in Boeing were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Blueprint LLC boosted its holdings in Boeing by 8.7% in the fourth quarter. Strategic Blueprint LLC now owns 3,295 shares of the aircraft producer’s stock valued at $859,000 after purchasing an additional 264 shares during the period. Morse Asset Management Inc boosted its holdings in Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after purchasing an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. boosted its holdings in Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock valued at $6,985,000 after purchasing an additional 33,904 shares during the period. California Public Employees Retirement System boosted its holdings in Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock valued at $198,781,000 after purchasing an additional 19,847 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in Boeing by 5.8% in the fourth quarter. J.W. Cole Advisors Inc. now owns 29,133 shares of the aircraft producer’s stock valued at $7,594,000 after purchasing an additional 1,596 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.2 %

Shares of Boeing stock traded up $0.41 during trading on Friday, hitting $167.22. 7,208,103 shares of the company were exchanged, compared to its average volume of 7,379,195. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The stock has a market capitalization 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. The firm has a 50 day moving average price of $186.53 and a 200 day moving average price of $206.46.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the firm earned ($1.75) earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts predict that The Boeing Company will post 0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of a number of analyst reports. Barclays cut their price target on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Melius restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Melius Research restated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Citigroup cut their target price on Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Bank of America cut their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $222.41.

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.