Beacon Financial Group Makes New Investment in The Boeing Company (NYSE:BA)

Beacon Financial Group purchased a new stake in shares of The Boeing Company (NYSE:BA) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,247 shares of the aircraft producer’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently made changes to their positions in BA. Van ECK Associates Corp grew its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares during the period. International Assets Investment Management LLC boosted its holdings in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. grew its position in Boeing by 1,296.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the period. State Street Corp raised its stake in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the subject of several research analyst reports. Robert W. Baird cut their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. Finally, Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Price Performance

BA stock opened at $186.04 on Thursday. The company has a market capitalization of $139.54 billion, a price-to-earnings ratio of -10.16 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The business has a 50 day simple moving average of $173.21 and a two-hundred day simple moving average of $163.95.

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