Islay Capital Management LLC Purchases 2,744 Shares of The Boeing Company (NYSE:BA)

Islay Capital Management LLC increased its position in The Boeing Company (NYSE:BA) by 50.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,135 shares of the aircraft producer’s stock after buying an additional 2,744 shares during the quarter. Boeing accounts for 1.6% of Islay Capital Management LLC’s portfolio, making the stock its 14th largest position. Islay Capital Management LLC’s holdings in Boeing were worth $2,120,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Jennison Associates LLC purchased a new position in shares of Boeing in the fourth quarter worth $960,397,000. Lazard Asset Management LLC increased its holdings in Boeing by 8,961.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after purchasing an additional 1,148,643 shares during the period. Barclays PLC grew its position in shares of Boeing by 54.5% in the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock worth $450,783,000 after buying an additional 829,321 shares during the last quarter. Invesco Ltd. increased its stake in shares of Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after buying an additional 759,267 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Boeing by 726.7% during the fourth quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock valued at $162,888,000 after acquiring an additional 549,318 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Susquehanna reduced their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a report on Thursday, March 21st. UBS Group lowered their target price on Boeing from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Finally, Stifel Nicolaus reduced their price target on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Hold” and an average price target of $222.41.

Boeing Price Performance

BA traded down $3.53 during midday trading on Tuesday, hitting $169.96. 4,210,764 shares of the company traded hands, compared to its average volume of 9,663,585. The company’s 50-day moving average is $185.92 and its 200 day moving average is $206.50. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.75) EPS. As a group, analysts predict that The Boeing Company will post -0.3 EPS for the current year.

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.