Institute for Wealth Management LLC. Has $2.78 Million Stock Position in Boeing Co (NYSE:BA)

Institute for Wealth Management LLC. lifted its stake in Boeing Co (NYSE:BA) by 2.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,186 shares of the aircraft producer’s stock after purchasing an additional 341 shares during the quarter. Boeing accounts for about 0.7% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 26th largest holding. Institute for Wealth Management LLC.’s holdings in Boeing were worth $2,784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Truewealth LLC boosted its holdings in shares of Boeing by 2.8% in the 2nd quarter. Truewealth LLC now owns 2,039 shares of the aircraft producer’s stock valued at $374,000 after purchasing an additional 56 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of Boeing by 0.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 8,751 shares of the aircraft producer’s stock valued at $1,305,000 after acquiring an additional 65 shares in the last quarter. SignalPoint Asset Management LLC boosted its holdings in shares of Boeing by 2.0% during the 2nd quarter. SignalPoint Asset Management LLC now owns 3,381 shares of the aircraft producer’s stock valued at $620,000 after acquiring an additional 65 shares in the last quarter. McNamara Financial Services Inc. boosted its holdings in shares of Boeing by 3.1% during the 1st quarter. McNamara Financial Services Inc. now owns 2,247 shares of the aircraft producer’s stock valued at $335,000 after acquiring an additional 68 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its holdings in shares of Boeing by 3.4% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 2,254 shares of the aircraft producer’s stock valued at $406,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

Several equities research analysts recently weighed in on the company. TheStreet downgraded Boeing from a “c-” rating to a “d” rating in a report on Wednesday, April 29th. Credit Suisse Group reissued a “neutral” rating and set a $156.00 price objective on shares of Boeing in a report on Wednesday. Cfra raised Boeing to a “buy” rating in a report on Wednesday, May 27th. ValuEngine downgraded Boeing from a “strong-buy” rating to a “buy” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and set a $165.00 target price on the stock. in a report on Friday, June 26th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $217.38.

Shares of BA stock traded down $3.95 during mid-day trading on Friday, hitting $158.00. The company’s stock had a trading volume of 30,286,699 shares, compared to its average volume of 34,075,772. The company’s fifty day simple moving average is $180.12 and its 200-day simple moving average is $204.01. Boeing Co has a 52 week low of $89.00 and a 52 week high of $391.00. The company has a market cap of $89.18 billion, a PE ratio of -31.29 and a beta of 1.47.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 29th. The aircraft producer reported ($4.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.93) by ($1.86). Boeing had a negative return on equity of 3.08% and a negative net margin of 4.27%. The business had revenue of $11.81 billion during the quarter, compared to the consensus estimate of $12.95 billion. During the same period last year, the business posted ($5.82) earnings per share. The business’s revenue was down 25.0% on a year-over-year basis. On average, equities analysts forecast that Boeing Co will post -6.26 EPS for the current year.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

See Also: Net Margin

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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