Massachusetts Wealth Management Boosts Position in The Boeing Company (NYSE:BA)

Massachusetts Wealth Management grew its position in shares of The Boeing Company (NYSE:BA) by 23.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,230 shares of the aircraft producer’s stock after purchasing an additional 815 shares during the quarter. Massachusetts Wealth Management’s holdings in Boeing were worth $643,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC boosted its holdings in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after acquiring an additional 56 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after purchasing an additional 60 shares in the last quarter. Angeles Wealth Management LLC increased its position in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after purchasing an additional 61 shares during the period. IMS Capital Management raised its stake in shares of Boeing by 0.4% in the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock worth $2,759,000 after buying an additional 62 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Boeing by 0.9% in the first quarter. Meeder Advisory Services Inc. now owns 7,559 shares of the aircraft producer’s stock valued at $1,459,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 0.7 %

BA stock traded up $1.09 during trading hours on Friday, hitting $156.29. The company’s stock had a trading volume of 2,239,988 shares, compared to its average volume of 8,100,211. The stock has a 50 day moving average price of $160.18 and a two-hundred day moving average price of $171.89. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54. The company has a market capitalization of $95.94 billion, a PE ratio of -43.93 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup cut their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. UBS Group decreased their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Moderate Buy” and a consensus target price of $191.79.

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.