Zullo Investment Group Inc. Grows Position in The Boeing Company (NYSE:BA)

Zullo Investment Group Inc. grew its stake in The Boeing Company (NYSE:BA) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,602 shares of the aircraft producer’s stock after buying an additional 130 shares during the quarter. Zullo Investment Group Inc.’s holdings in Boeing were worth $992,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BA. Van ECK Associates Corp lifted its holdings in Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after purchasing an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after purchasing an additional 1,251,165 shares during the period. Franklin Resources Inc. lifted its stake in shares of Boeing by 1,296.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares in the last quarter. State Street Corp increased its stake in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA opened at $186.20 on Thursday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $208.10. The firm has a 50-day simple moving average of $176.32 and a two-hundred day simple moving average of $164.20. The company has a market cap of $139.66 billion, a P/E ratio of -10.16 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 previous year, the company earned ($0.47) earnings per share. As a group, equities research analysts expect that The Boeing Company will post -2.32 EPS for the current year.

Analysts Set New Price Targets

BA has been the topic of several recent analyst reports. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Robert W. Baird reduced their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup upped their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Benchmark reiterated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Finally, Sanford C. Bernstein downgraded shares of 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. Two investment analysts have rated the stock with a sell rating, eight have assigned 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.