Miracle Mile Advisors LLC Raises Stock Position in The Boeing Company (NYSE:BA)

Miracle Mile Advisors LLC increased its holdings in The Boeing Company (NYSE:BA) by 29.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,262 shares of the aircraft producer’s stock after buying an additional 5,998 shares during the period. Miracle Mile Advisors LLC’s holdings in Boeing were worth $4,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BA. IMS Capital Management boosted its stake in shares of Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after buying an additional 62 shares during the last quarter. Sterneck Capital Management LLC increased its position in Boeing by 2.3% in the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock worth $530,000 after buying an additional 66 shares during the period. Peoples Financial Services CORP. increased its position in shares of Boeing by 0.8% during the third quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 67 shares during the period. Altus Wealth Group LLC boosted its stake in Boeing by 5.7% in the third quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock worth $201,000 after purchasing an additional 71 shares in the last quarter. Finally, Hancock Whitney Corp lifted its stake in Boeing by 1.0% in the second quarter. Hancock Whitney Corp now owns 7,582 shares of the aircraft producer’s stock valued at $1,380,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BA shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, October 30th. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Boeing Price Performance

Shares of BA traded down $1.44 during trading hours on Monday, hitting $170.56. The company’s stock had a trading volume of 6,023,975 shares, compared to its average volume of 8,544,258. The company has a market cap of $105.44 billion, a price-to-earnings ratio of -13.22 and a beta of 1.52. The business has a 50 day simple moving average of $161.39 and a two-hundred day simple moving average of $165.16. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. Research analysts predict that The Boeing Company will post -16.18 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.