Grant GrossMendelsohn LLC Takes $204,000 Position in The Boeing Company (NYSE:BA)

Grant GrossMendelsohn LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,151 shares of the aircraft producer’s stock, valued at approximately $204,000.

Several other large investors have also recently bought and sold shares of BA. Newport Trust Company LLC grew its holdings in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after purchasing an additional 388,633 shares in the last quarter. State Street Corp raised its stake in shares of Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock worth $1,774,705,000 after acquiring an additional 320,415 shares during the period. Jennison Associates LLC boosted its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after acquiring an additional 277,350 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Morgan Stanley dropped their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group reduced their target price on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Susquehanna reduced their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Trading Up 1.3 %

Boeing stock opened at $171.14 on Friday. The company has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The company’s 50-day moving average is $162.76 and its two-hundred day moving average is $165.00.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company earned ($3.26) EPS. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts forecast that The Boeing Company will post -16.43 EPS for the current year.

Boeing Company 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.