Clear Harbor Asset Management LLC Grows Position in The Boeing Company (NYSE:BA)

Clear Harbor Asset Management LLC lifted its position in The Boeing Company (NYSE:BA) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,746 shares of the aircraft producer’s stock after purchasing an additional 390 shares during the period. Clear Harbor Asset Management LLC’s holdings in Boeing were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Carnegie Capital Asset Management LLC lifted its stake in Boeing by 50.9% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 5,676 shares of the aircraft producer’s stock worth $1,480,000 after acquiring an additional 1,915 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Boeing by 1.7% during the 4th quarter. Bison Wealth LLC now owns 3,177 shares of the aircraft producer’s stock worth $828,000 after purchasing an additional 54 shares during the period. Flputnam Investment Management Co. grew its stake in shares of Boeing by 14.0% during the 4th quarter. Flputnam Investment Management Co. now owns 3,361 shares of the aircraft producer’s stock worth $876,000 after purchasing an additional 414 shares during the period. First American Trust FSB purchased a new stake in shares of Boeing in the 4th quarter worth about $367,000. Finally, SVB Wealth LLC lifted its holdings in Boeing by 19.1% in the 4th quarter. SVB Wealth LLC now owns 20,839 shares of the aircraft producer’s stock valued at $5,432,000 after purchasing an additional 3,339 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BA shares. Baird R W raised shares of Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. StockNews.com cut Boeing from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Susquehanna reiterated a “positive” rating and issued a $230.00 target price on shares of Boeing in a research note on Wednesday. Citigroup lowered their target price on Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $215.18.

Boeing Stock Performance

Shares of Boeing stock traded up $3.78 during trading hours on Friday, reaching $180.19. The company’s stock had a trading volume of 5,030,652 shares, compared to its average volume of 8,049,417. The stock has a market cap of $110.62 billion, a P/E ratio of -50.59 and a beta of 1.56. The company’s 50 day simple moving average is $179.55 and its 200 day simple moving average is $184.81. The Boeing Company has a one year low of $159.70 and a one year high of $267.54.

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

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.