Sunpointe LLC Acquires New Holdings in The Boeing Company (NYSE:BA)

Sunpointe LLC bought a new position in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,798 shares of the aircraft producer’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Boeing by 2.8% during the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after buying an additional 602,143 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock worth $739,957,000 after buying an additional 277,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Boeing by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after acquiring an additional 48,637 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.7 %

Shares of NYSE:BA opened at $186.20 on Thursday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $208.10. The business has a 50 day moving average of $176.32 and a two-hundred day moving average of $164.20. The company has a market capitalization of $139.66 billion, a PE ratio of -10.16 and a beta of 1.52.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) EPS. Equities research analysts predict that The Boeing Company will post -2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BA shares. Citigroup lifted their price target on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft increased their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. UBS Group boosted their price target on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Finally, Sanford C. Bernstein downgraded shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.16.

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.