ARS Investment Partners LLC Invests $16.28 Million in The Boeing Company (NYSE:BA)

ARS Investment Partners LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 91,957 shares of the aircraft producer’s stock, valued at approximately $16,276,000. Boeing comprises about 1.5% of ARS Investment Partners LLC’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its holdings in Boeing by 54.2% during the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after acquiring an additional 38,300 shares during the period. Carnegie Investment Counsel increased its position in Boeing by 175.6% during the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the period. Principal Financial Group Inc. increased its position in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the period. Finally, Jennison Associates LLC raised its stake in Boeing by 9.9% in the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Trading Up 1.3 %

NYSE BA opened at $171.14 on Tuesday. The company has a market cap of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The company has a fifty day simple moving average of $163.15 and a 200 day simple moving average of $164.61. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned ($3.26) EPS. Sell-side analysts predict that The Boeing Company will post -16.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. TD Cowen dropped their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, UBS Group dropped their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

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.