Miracle Mile Advisors LLC Buys 1,064 Shares of The Boeing Company (NYSE:BA)

Miracle Mile Advisors LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,005 shares of the aircraft producer’s stock after buying an additional 1,064 shares during the period. Miracle Mile Advisors LLC’s holdings in Boeing were worth $3,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirador Capital Partners LP bought a new position in shares of Boeing during the 1st quarter valued at about $3,258,000. Financial Partners Group LLC lifted its stake in Boeing by 10.5% in the 1st quarter. Financial Partners Group LLC now owns 4,724 shares of the aircraft producer’s stock valued at $912,000 after acquiring an additional 448 shares in the last quarter. ADE LLC lifted its stake in Boeing by 15.7% in the 1st quarter. ADE LLC now owns 1,474 shares of the aircraft producer’s stock valued at $284,000 after acquiring an additional 200 shares in the last quarter. Breakwater Capital Group lifted its stake in Boeing by 9.7% in the 1st quarter. Breakwater Capital Group now owns 2,914 shares of the aircraft producer’s stock valued at $562,000 after acquiring an additional 258 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC lifted its stake in Boeing by 14.4% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 21,072 shares of the aircraft producer’s stock valued at $4,067,000 after acquiring an additional 2,653 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BA shares. Sanford C. Bernstein cut their target price on Boeing from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Argus lowered Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. lowered their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada lowered their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Finally, StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Stock Performance

NYSE:BA opened at $186.70 on Tuesday. The firm has a market capitalization of $114.61 billion, a price-to-earnings ratio of -52.74 and a beta of 1.56. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The stock has a fifty day moving average of $178.50 and a 200 day moving average of $198.05.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. Equities analysts forecast that The Boeing Company will post -1.67 earnings per share for the current fiscal 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.