Delta Investment Management LLC Invests $350,000 in The Boeing Company (NYSE:BA)

Delta Investment Management LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,815 shares of the aircraft producer’s stock, valued at approximately $350,000.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Boeing by 16.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 931,916 shares of the aircraft producer’s stock worth $179,850,000 after purchasing an additional 132,784 shares during the last quarter. Angeles Wealth Management LLC raised its position in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock worth $294,000 after purchasing an additional 61 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Boeing by 3.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 602,168 shares of the aircraft producer’s stock worth $127,919,000 after purchasing an additional 20,021 shares during the last quarter. TD Asset Management Inc raised its position in shares of Boeing by 7.7% during the 1st quarter. TD Asset Management Inc now owns 379,344 shares of the aircraft producer’s stock worth $73,210,000 after purchasing an additional 27,024 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in shares of Boeing by 13.3% during the 1st quarter. Dearborn Partners LLC now owns 4,065 shares of the aircraft producer’s stock worth $785,000 after purchasing an additional 478 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of NYSE:BA traded down $4.61 during mid-day trading on Thursday, reaching $180.23. 5,276,219 shares of the company were exchanged, compared to its average volume of 8,260,275. The firm has a market cap of $110.64 billion, a price-to-earnings ratio of -50.77 and a beta of 1.56. The firm’s 50-day simple moving average is $181.47 and its 200 day simple moving average is $191.42. The Boeing Company has a 1 year low of $159.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analysts’ expectations of $17.69 billion. On average, research analysts forecast that The Boeing Company will post -1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on BA. Morgan Stanley cut their price objective on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $225.00 price objective on shares of Boeing in a report on Tuesday, June 25th. Susquehanna reiterated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Tuesday, March 26th. Finally, Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.89.

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.