Wallace Advisory Group LLC Makes New $244,000 Investment in The Boeing Company (NYSE:BA)

Wallace Advisory Group LLC acquired a new stake in The Boeing Company (NYSE:BA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,339 shares of the aircraft producer’s stock, valued at approximately $244,000.

A number of other hedge funds also recently modified their holdings of BA. Capital Research Global Investors grew its stake in Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Boeing during the first quarter worth approximately $272,312,000. Finally, Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group decreased their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Stifel Nicolaus upped their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein lowered their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group cut their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Baird R W raised shares of Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.83.

Boeing Stock Down 2.7 %

Boeing stock opened at $152.03 on Tuesday. The stock has a market cap of $93.33 billion, a PE ratio of -42.83 and a beta of 1.57. The Boeing Company has a 12-month low of $151.24 and a 12-month high of $267.54. The business’s 50-day moving average price is $167.99 and its two-hundred day moving average price is $175.90.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted ($0.82) EPS. As a group, analysts expect that The Boeing Company will post -4.27 earnings per share for the current 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.