Sterling Investment Management LLC Acquires 2,899 Shares of The Boeing Company (NYSE:BA)

Sterling Investment Management LLC lifted its position in The Boeing Company (NYSE:BA) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,043 shares of the aircraft producer’s stock after acquiring an additional 2,899 shares during the quarter. Boeing accounts for approximately 1.5% of Sterling Investment Management LLC’s investment portfolio, making the stock its 24th largest holding. Sterling Investment Management LLC’s holdings in Boeing were worth $1,955,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BA. American Century Companies Inc. boosted its holdings in Boeing by 20.8% in the second quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock worth $8,189,000 after acquiring an additional 7,739 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Boeing by 5.3% during the 2nd quarter. Pacer Advisors Inc. now owns 41,287 shares of the aircraft producer’s stock valued at $7,515,000 after acquiring an additional 2,066 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Boeing by 28.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock worth $5,942,000 after purchasing an additional 7,182 shares during the period. Frank Rimerman Advisors LLC boosted its stake in shares of Boeing by 1,401.6% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,778 shares of the aircraft producer’s stock worth $506,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Boeing by 72.7% in the second quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock valued at $3,966,000 after purchasing an additional 9,171 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BA. Wells Fargo & Company cut their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Stock Up 2.7 %

Shares of BA stock opened at $175.63 on Wednesday. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The firm’s 50 day moving average price is $163.59 and its two-hundred day moving average price is $164.52. The stock has a market cap of $108.58 billion, a price-to-earnings ratio of -13.61 and a beta of 1.52.

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