Great Valley Advisor Group Inc. Reduces Holdings in The Boeing Company (NYSE:BA)

Great Valley Advisor Group Inc. decreased its holdings in The Boeing Company (NYSE:BA) by 8.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,177 shares of the aircraft producer’s stock after selling 2,273 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Boeing were worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BA. Vermillion & White Wealth Management Group LLC purchased a new position in Boeing during the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new position in Boeing during the fourth quarter valued at approximately $28,000. Evolution Advisers Inc. purchased a new position in Boeing during the fourth quarter valued at approximately $28,000. Vima LLC purchased a new position in Boeing during the fourth quarter valued at approximately $34,000. Finally, Accent Capital Management LLC purchased a new position in Boeing during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.2 %

Shares of BA traded down $0.26 during trading hours on Wednesday, reaching $168.50. 1,848,443 shares of the company traded hands, compared to its average volume of 8,071,721. The firm has a market cap of $103.44 billion, a price-to-earnings ratio of -47.35 and a beta of 1.56. The stock’s fifty day moving average price is $180.27 and its 200 day moving average price is $184.99. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the prior year, the business posted ($0.82) EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. On average, research analysts forecast that The Boeing Company will post -2.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on BA. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research report on Wednesday, April 17th. UBS Group reduced their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Baird R W upgraded shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.18.

About Boeing

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.