JustInvest LLC boosted its stake in shares of The Boeing Company (NYSE:BA) by 42.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,064 shares of the aircraft producer’s stock after purchasing an additional 1,817 shares during the quarter. JustInvest LLC’s holdings in The Boeing were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new stake in The Boeing in the third quarter worth about $1,634,000. Brinker Capital Investments LLC raised its stake in shares of The Boeing by 52.7% in the third quarter. Brinker Capital Investments LLC now owns 1,767 shares of the aircraft producer’s stock worth $292,000 after purchasing an additional 610 shares during the last quarter. Strs Ohio raised its stake in shares of The Boeing by 13.7% in the third quarter. Strs Ohio now owns 312,888 shares of the aircraft producer’s stock worth $51,707,000 after purchasing an additional 37,690 shares during the last quarter. Cacti Asset Management LLC raised its stake in shares of The Boeing by 4.3% in the fourth quarter. Cacti Asset Management LLC now owns 158,231 shares of the aircraft producer’s stock worth $34,284,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Stillwater Investment Management LLC raised its stake in shares of The Boeing by 31.1% in the fourth quarter. Stillwater Investment Management LLC now owns 2,948 shares of the aircraft producer’s stock worth $631,000 after purchasing an additional 700 shares during the last quarter. 51.41% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the company. Canaccord Genuity upgraded The Boeing from a “hold” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $275.00 in a research note on Thursday, March 11th. Royal Bank of Canada set a $307.00 price target on The Boeing and gave the company a “buy” rating in a research report on Monday, January 4th. Benchmark reduced their price target on The Boeing from $290.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, February 19th. Morgan Stanley boosted their price objective on The Boeing from $250.00 to $274.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Finally, Sanford C. Bernstein upgraded The Boeing from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $196.00 to $229.00 in a report on Tuesday. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The Boeing currently has an average rating of “Hold” and a consensus target price of $240.22.
The Boeing (NYSE:BA) last posted its quarterly earnings data on Tuesday, April 27th. The aircraft producer reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.36). The business had revenue of $15.22 billion during the quarter, compared to the consensus estimate of $15.95 billion. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.70) earnings per share. Research analysts expect that The Boeing Company will post -9.39 earnings per share for the current year.
The 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 through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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