Pasadena Private Wealth LLC Purchases 67 Shares of The Boeing Company (NYSE:BA)

Pasadena Private Wealth LLC boosted its position in The Boeing Company (NYSE:BA) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,134 shares of the aircraft producer’s stock after buying an additional 67 shares during the period. Pasadena Private Wealth LLC’s holdings in Boeing were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BA. Vanguard Group Inc. increased its holdings in Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock worth $12,642,519,000 after purchasing an additional 892,446 shares in the last quarter. Capital Research Global Investors increased its holdings in Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares in the last quarter. Morgan Stanley increased its holdings in Boeing by 1.1% during the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after purchasing an additional 91,801 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Boeing by 1.1% during the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BA. TD Cowen decreased their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 25th. Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. 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. Sanford C. Bernstein cut their target price on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $220.89.

Boeing Trading Up 0.5 %

BA stock traded up $0.88 during midday trading on Friday, reaching $183.39. 549,292 shares of the company’s stock traded hands, compared to its average volume of 8,513,844. The company has a 50-day moving average price of $178.00 and a two-hundred day moving average price of $199.34. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. As a group, analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current year.

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.