Principal Securities Inc. Raises Stock Position in The Boeing Company (NYSE:BA)

Principal Securities Inc. raised its position in The Boeing Company (NYSE:BA) by 39.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,856 shares of the aircraft producer’s stock after buying an additional 3,384 shares during the period. Principal Securities Inc.’s holdings in Boeing were worth $2,098,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Sugar Maple Asset Management LLC bought a new stake in shares of Boeing during the fourth quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in Boeing during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new position in Boeing during the 4th quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in Boeing in the 3rd quarter valued at approximately $30,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Boeing in the fourth quarter worth $33,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 0.5 %

NYSE BA opened at $184.52 on Tuesday. The company has a market capitalization of $138.40 billion, a price-to-earnings ratio of -10.07 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $208.10. The stock has a fifty day simple moving average of $174.96 and a 200 day simple moving average of $163.90.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the company earned ($0.47) EPS. Research analysts expect that The Boeing Company will post -2.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BA. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group increased their price target on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Susquehanna boosted their price target on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on Boeing from $85.00 to $103.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.16.

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.