Westend Capital Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Westend Capital Management LLC purchased a new position in The Boeing Company (NYSE:BA) in the fourth quarter, Holdings Channel reports. The fund purchased 99,246 shares of the aircraft producer’s stock, valued at approximately $17,567,000. Boeing accounts for approximately 5.2% of Westend Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMS Capital Management boosted its position in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after acquiring an additional 62 shares during the period. Sterneck Capital Management LLC grew its position in shares of Boeing by 2.3% during the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after purchasing an additional 66 shares in the last quarter. Peoples Financial Services CORP. increased its holdings in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock worth $1,352,000 after purchasing an additional 67 shares during the period. GSG Advisors LLC raised its position in shares of Boeing by 4.7% in the fourth quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock valued at $264,000 after buying an additional 67 shares in the last quarter. Finally, Altus Wealth Group LLC boosted its stake in shares of Boeing by 5.7% in the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after buying an additional 71 shares during the period. 64.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BA. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. UBS Group decreased their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Susquehanna reduced their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two 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 stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Stock Up 1.3 %

Shares of NYSE BA opened at $171.14 on Friday. The firm has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The company’s fifty day simple moving average is $162.76 and its 200 day simple moving average is $165.00. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the business earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that The Boeing Company will post -16.43 earnings per share for the current year.

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.