Westend Capital Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Westend Capital Management LLC bought a new stake in The Boeing Company (NYSE:BA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 99,246 shares of the aircraft producer’s stock, valued at approximately $17,567,000. Boeing makes up 5.2% of Westend Capital Management LLC’s holdings, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the 3rd quarter valued at $28,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the 2nd quarter worth $33,000. Cedar Wealth Management LLC acquired a new position in Boeing in the third quarter valued at $30,000. Fairscale Capital LLC acquired a new stake in shares of Boeing during the second quarter worth about $59,000. Finally, Planning Capital Management Corp grew its holdings in shares of Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after buying an additional 289 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the subject of several recent analyst reports. Susquehanna reduced their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group dropped their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Up 1.3 %

BA opened at $171.14 on Friday. The firm’s 50 day moving average is $162.76 and its 200-day moving average is $165.00. The firm has a market capitalization of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59.

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

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.