Sierra Ocean LLC Invests $26,000 in The Boeing Company (NYSE:BA)

Sierra Ocean LLC bought a new position in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 149 shares of the aircraft producer’s stock, valued at approximately $26,000.

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

Boeing Price Performance

NYSE:BA opened at $184.73 on Wednesday. The firm has a market cap of $138.56 billion, a price-to-earnings ratio of -10.08 and a beta of 1.52. The company has a 50 day moving average price of $175.51 and a 200-day moving average price of $163.94. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BA. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

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.