Private Management Group Inc. Takes $259,000 Position in The Boeing Company (NYSE:BA)

Private Management Group Inc. bought a new stake in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 995 shares of the aircraft producer’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of BA. CNB Bank grew its stake in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Naples Money Management LLC purchased a new stake in Boeing during the fourth quarter worth $44,000. M&R Capital Management Inc. lifted its holdings in Boeing by 35.0% during the fourth quarter. M&R Capital Management Inc. now owns 193 shares of the aircraft producer’s stock worth $50,000 after buying an additional 50 shares during the period. Keener Financial Planning LLC purchased a new stake in Boeing during the fourth quarter worth $52,000. Finally, Park Place Capital Corp lifted its holdings in Boeing by 185.1% during the third quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after buying an additional 137 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

BA traded down $4.85 during trading hours on Wednesday, reaching $164.33. The company’s stock had a trading volume of 20,675,666 shares, compared to its average volume of 9,727,737. The stock has a market cap of $100.26 billion, a PE ratio of -45.36, a P/E/G ratio of 135.00 and a beta of 1.52. The Boeing Company has a fifty-two week low of $162.74 and a fifty-two week high of $267.54. The business’s 50-day moving average is $188.81 and its 200-day moving average is $207.19.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the firm earned ($1.75) EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts expect that The Boeing Company will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BA shares. Citigroup lowered their target price on Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Morgan Stanley cut their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada cut 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. Sanford C. Bernstein cut their price target on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. Finally, The Goldman Sachs Group cut their price target on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.71.

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.