Perennial Investment Advisors LLC Lowers Stock Holdings in The Boeing Company $BA

Perennial Investment Advisors LLC decreased its holdings in shares of The Boeing Company (NYSE:BA) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,301 shares of the aircraft producer’s stock after selling 653 shares during the period. Perennial Investment Advisors LLC’s holdings in Boeing were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of Boeing during the fourth quarter worth about $201,000. Obermeyer Wealth Partners acquired a new stake in Boeing in the 1st quarter worth about $329,000. Ignite Planners LLC increased its stake in Boeing by 1.4% during the 1st quarter. Ignite Planners LLC now owns 16,053 shares of the aircraft producer’s stock worth $2,936,000 after buying an additional 215 shares in the last quarter. PFG Advisors increased its stake in Boeing by 2.1% during the 1st quarter. PFG Advisors now owns 4,561 shares of the aircraft producer’s stock worth $778,000 after buying an additional 93 shares in the last quarter. Finally, Choreo LLC raised its holdings in shares of Boeing by 3.5% during the first quarter. Choreo LLC now owns 29,158 shares of the aircraft producer’s stock valued at $4,973,000 after acquiring an additional 987 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of BA stock opened at $189.71 on Wednesday. The company has a market capitalization of $144.20 billion, a PE ratio of -13.87 and a beta of 1.44. The firm’s 50-day moving average is $211.28 and its two-hundred day moving average is $214.99. The Boeing Company has a 12 month low of $128.88 and a 12 month high of $242.69.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The firm had revenue of $23.27 billion for the quarter, compared to analyst estimates of $21.61 billion. Boeing’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the company earned ($10.44) EPS. Sell-side analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BA shares. Citigroup reiterated a “buy” rating on shares of Boeing in a research report on Monday, July 28th. Vertical Research raised shares of Boeing from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Jefferies Financial Group set a $255.00 price target on shares of Boeing in a research note on Tuesday, September 30th. Morgan Stanley restated an “equal weight” rating on shares of Boeing in a research report on Monday, July 28th. Finally, Zacks Research downgraded shares of Boeing from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.09.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 1,366 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $197.66, for a total transaction of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares in the company, valued at approximately $2,896,904.96. This represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.