Sonata Capital Group Inc. Buys New Position in The Boeing Company (NYSE:BA)

Sonata Capital Group Inc. bought a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,167 shares of the aircraft producer’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter worth about $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Boeing during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in Boeing in the fourth quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new position in Boeing during the third quarter worth approximately $30,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Boeing in the 4th quarter valued at $33,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Susquehanna increased their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Stock Performance

Boeing stock opened at $180.51 on Wednesday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $209.80. The firm’s 50-day moving average is $172.70 and its 200-day moving average is $163.99. The company has a market cap of $135.39 billion, a P/E ratio of -9.85 and a beta of 1.52.

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