Beacon Pointe Advisors LLC Has $21.75 Million Holdings in The Boeing Company (NYSE:BA)

Beacon Pointe Advisors LLC cut its stake in The Boeing Company (NYSE:BA - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,438 shares of the aircraft producer's stock after selling 9,475 shares during the period. Beacon Pointe Advisors LLC's holdings in Boeing were worth $21,749,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $28,000. Evolution Advisers Inc. acquired a new stake in Boeing during the fourth quarter worth approximately $28,000. CNB Bank boosted its holdings in shares of Boeing by 106.5% in the 3rd 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. Naples Money Management LLC acquired a new position in shares of Boeing in the 4th quarter valued at $44,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Boeing by 35.0% in the 4th quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer's stock valued at $50,000 after purchasing an additional 50 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

Shares of BA stock traded up $1.99 during midday trading on Friday, reaching $184.95. 5,508,412 shares of the company were exchanged, compared to its average volume of 9,221,728. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The company has a market cap of $113.54 billion, a P/E ratio of -52.10 and a beta of 1.54. The company's 50 day moving average price is $179.65 and its two-hundred day moving average price is $205.78.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping analysts' consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. As a group, sell-side analysts predict that The Boeing Company will post -0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BA shares. Citigroup cut their target price on shares of Boeing from $252.00 to $224.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Melius Research reaffirmed a "hold" rating on shares of Boeing in a research note on Monday, April 1st. The Goldman Sachs Group dropped their price target on shares of Boeing from $268.00 to $257.00 and set a "buy" rating on the stock in a research note on Monday, March 25th. Morgan Stanley dropped their price target on shares of Boeing from $235.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Boeing from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $221.24.

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.