Blue Zone Wealth Advisors LLC Buys 2,653 Shares of The Boeing Company (NYSE:BA)

Blue Zone Wealth Advisors LLC grew its stake in The Boeing Company (NYSE:BA) by 14.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,072 shares of the aircraft producer’s stock after purchasing an additional 2,653 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Boeing were worth $4,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BA. Vanguard Group Inc. boosted its position in Boeing by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after acquiring an additional 892,446 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of 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 purchasing an additional 4,425,964 shares during the period. Price T Rowe Associates Inc. MD grew its stake in 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 worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Morgan Stanley boosted its holdings in shares of Boeing by 1.1% during the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after buying an additional 91,801 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Boeing by 1.1% in the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock worth $1,304,150,000 after buying an additional 52,081 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 target price on shares of Boeing in a research note on Tuesday, June 25th. Susquehanna reissued a “positive” rating and issued a $230.00 target price on shares of Boeing in a report on Wednesday, May 15th. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Morgan Stanley dropped their price target on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Price Performance

Shares of BA traded down $0.50 on Friday, reaching $182.01. The company’s stock had a trading volume of 5,899,850 shares, compared to its average volume of 5,801,654. The stock’s 50 day simple moving average is $178.50 and its two-hundred day simple moving average is $198.05. The stock has a market capitalization of $111.73 billion, a P/E ratio of -51.27 and a beta of 1.55. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.30. The business had revenue of $16.57 billion for the quarter, compared to analysts’ expectations of $17.69 billion. Analysts expect that The Boeing Company will post -1.67 earnings per share for the current year.

About Boeing

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.