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

Hedges Asset Management LLC increased its position in shares of The Boeing Company (NYSE:BA) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,420 shares of the aircraft producer’s stock after acquiring an additional 5,545 shares during the quarter. Boeing comprises 3.7% of Hedges Asset Management LLC’s holdings, making the stock its 3rd biggest position. Hedges Asset Management LLC’s holdings in Boeing were worth $5,561,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BA. AdvisorNet Financial Inc grew its stake in shares of Boeing by 54.2% during the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares during the last quarter. Carnegie Investment Counsel boosted its stake in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Boeing by 8.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares during the last quarter. Principal Financial Group Inc. increased its stake in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after purchasing an additional 38,332 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 2.0 %

Shares of BA stock opened at $178.34 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59. The business’s 50 day moving average is $164.90 and its two-hundred day moving average is $164.53. The company has a market capitalization of $110.25 billion, a P/E ratio of -13.82 and a beta of 1.52.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) EPS. On average, research analysts predict that The Boeing Company will post -16.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BA has been the topic of a number of research analyst reports. Susquehanna dropped their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Citigroup cut their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Two investment 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.21.

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.