Secure Asset Management LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Secure Asset Management LLC lifted its position in shares of The Boeing Company (NYSE:BA) by 54.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,336 shares of the aircraft producer’s stock after purchasing an additional 4,697 shares during the period. Secure Asset Management LLC’s holdings in Boeing were worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Boeing in the fourth quarter worth about $376,000. Massmutual Trust Co. FSB ADV raised its stake in Boeing by 13.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,518 shares of the aircraft producer’s stock worth $486,000 after buying an additional 297 shares in the last quarter. Apella Capital LLC raised its stake in Boeing by 9.3% in the first quarter. Apella Capital LLC now owns 7,431 shares of the aircraft producer’s stock worth $1,324,000 after buying an additional 631 shares in the last quarter. Park Avenue Securities LLC raised its stake in Boeing by 20.7% in the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after buying an additional 1,805 shares in the last quarter. Finally, Midwest Financial Group LLC raised its stake in Boeing by 3.7% in the first quarter. Midwest Financial Group LLC now owns 8,420 shares of the aircraft producer’s stock worth $1,625,000 after buying an additional 300 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Trading Up 0.3 %

Shares of BA stock opened at $155.31 on Friday. The firm’s 50 day moving average is $161.36 and its 200 day moving average is $172.88. The stock has a market capitalization of $95.34 billion, a P/E ratio of -43.75 and a beta of 1.57. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. Boeing’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, equities analysts predict that The Boeing Company will post -5.35 earnings per share for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein decreased their target price on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.32.

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.