Catalyst Capital Advisors LLC Makes New $500,000 Investment in The Boeing Company (NYSE:BA)

Catalyst Capital Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,291 shares of the aircraft producer’s stock, valued at approximately $500,000.

A number of other hedge funds have also modified their holdings of the business. QRG Capital Management Inc. lifted its position in Boeing by 6.3% in the third quarter. QRG Capital Management Inc. now owns 53,190 shares of the aircraft producer’s stock valued at $8,087,000 after buying an additional 3,132 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Boeing by 5.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 319,103 shares of the aircraft producer’s stock valued at $48,516,000 after acquiring an additional 15,852 shares during the period. National Pension Service lifted its holdings in shares of Boeing by 8.8% in the 3rd quarter. National Pension Service now owns 965,236 shares of the aircraft producer’s stock worth $146,754,000 after acquiring an additional 78,386 shares during the last quarter. Silicon Valley Capital Partners acquired a new stake in Boeing in the 3rd quarter valued at approximately $149,000. Finally, Chaney Capital Management Inc. raised its position in Boeing by 3.7% in the third quarter. Chaney Capital Management Inc. now owns 2,812 shares of the aircraft producer’s stock valued at $428,000 after purchasing an additional 100 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BA shares. Deutsche Bank Aktiengesellschaft lowered their price target on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. UBS Group dropped their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, Robert W. Baird reduced their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $190.37.

Boeing Trading Down 2.6 %

Shares of NYSE:BA opened at $150.99 on Wednesday. The firm has a 50 day simple moving average of $156.65 and a 200-day simple moving average of $170.77. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The company has a market capitalization of $93.34 billion, a PE ratio of -11.70 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.26) earnings per share. As a group, equities research analysts predict that The Boeing Company will post -16.13 EPS for the current fiscal 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.