Spire Wealth Management Trims Stake in The Boeing Company (NYSE:BA)

Spire Wealth Management lessened its stake in The Boeing Company (NYSE:BA) by 18.0% during the fourth quarter, Holdings Channel reports. The firm owned 12,891 shares of the aircraft producer’s stock after selling 2,828 shares during the period. Spire Wealth Management’s holdings in Boeing were worth $3,360,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BA. CNB Bank increased its position in Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in Boeing during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Boeing during the fourth quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in shares of Boeing in the fourth quarter worth $44,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in Boeing by 66.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock valued at $45,000 after acquiring an additional 94 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.5 %

BA stock traded down $0.89 during trading hours on Tuesday, hitting $177.46. 755,170 shares of the stock were exchanged, compared to its average volume of 9,556,529. The company has a 50-day simple moving average of $183.29 and a two-hundred day simple moving average of $206.17. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BA shares. Stifel Nicolaus cut their target price on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Susquehanna cut their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research note on Thursday, March 21st. Wells Fargo & Company dropped their price target on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Finally, Morgan Stanley cut their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Hold” and an average target price of $222.41.

Boeing Company 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.