bLong Financial LLC Acquires New Stake in The Boeing Company (NYSE:BA)

bLong Financial LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,437 shares of the aircraft producer’s stock, valued at approximately $431,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. AdvisorNet Financial Inc increased its holdings in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Carnegie Investment Counsel increased its holdings in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BA. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Price Performance

Shares of NYSE BA opened at $184.52 on Friday. The business’s 50 day moving average is $174.96 and its two-hundred day moving average is $164.24. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The stock has a market capitalization of $138.40 billion, a P/E ratio of -10.07 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm posted ($0.47) earnings per share. As a group, equities research analysts anticipate that The Boeing Company will post -2.3 earnings per share for the current fiscal year.

About Boeing

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.