Udine Wealth Management Inc. Makes New Investment in The Boeing Company (NYSE:BA)

Udine Wealth Management Inc. acquired a new stake in The Boeing Company (NYSE:BA) in the fourth quarter, Holdings Channel reports. The fund acquired 11,315 shares of the aircraft producer’s stock, valued at approximately $2,003,000. Boeing accounts for 1.3% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds also recently made changes to their positions in the company. IMS Capital Management boosted its holdings in Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Sterneck Capital Management LLC raised its position in shares of Boeing by 2.3% in the fourth quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after buying an additional 66 shares in the last quarter. Peoples Financial Services CORP. boosted its stake in Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after buying an additional 67 shares during the period. GSG Advisors LLC grew its position in Boeing by 4.7% during the fourth quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock worth $264,000 after buying an additional 67 shares in the last quarter. Finally, Altus Wealth Group LLC increased its stake in Boeing by 5.7% in the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after acquiring an additional 71 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 1.3 %

BA stock opened at $171.14 on Friday. The firm’s 50-day moving average price is $163.15 and its two-hundred day moving average price is $164.89. The stock has a market capitalization of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($3.26) EPS. Equities analysts predict that The Boeing Company will post -16.43 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent analyst reports. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, October 15th. Citigroup cut their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. cut their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Morgan Stanley lowered their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.