The Boeing Company (NYSE:BA) Stock Position Raised by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its position in The Boeing Company (NYSE:BA) by 44.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,986 shares of the aircraft producer’s stock after acquiring an additional 609 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Boeing were worth $362,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BA. Vermillion & White Wealth Management Group LLC acquired a new position in Boeing in the 4th quarter valued at approximately $26,000. Vima LLC acquired a new position in Boeing in the 4th quarter valued at approximately $34,000. Hobbs Group Advisors LLC acquired a new position in Boeing in the 2nd quarter valued at approximately $34,000. McClarren Financial Advisors Inc. increased its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after buying an additional 158 shares during the period. Finally, Bfsg LLC acquired a new position in Boeing in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.9 %

Shares of Boeing stock traded up $1.48 during mid-day trading on Friday, reaching $173.74. 4,146,190 shares of the stock were exchanged, compared to its average volume of 7,852,250. The company has a market cap of $106.66 billion, a price-to-earnings ratio of -48.94 and a beta of 1.56. The firm has a 50-day simple moving average of $178.13 and a 200 day simple moving average of $182.21. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.82) EPS. On average, research analysts predict that The Boeing Company will post -2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BA shares. Wells Fargo & Company dropped their price target on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Sanford C. Bernstein reduced their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Stifel Nicolaus increased their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.18.

Boeing Company 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.