Park Avenue Securities LLC Grows Stake in The Boeing Company (NYSE:BA)

Park Avenue Securities LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 23.7% in the fourth quarter, Holdings Channel reports. The firm owned 11,486 shares of the aircraft producer’s stock after buying an additional 2,202 shares during the period. Park Avenue Securities LLC’s holdings in Boeing were worth $2,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. IMS Capital Management lifted its position in Boeing by 0.4% during the 2nd quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the period. Sterneck Capital Management LLC lifted its position in Boeing by 2.3% during the 4th quarter. Sterneck Capital Management LLC now owns 2,992 shares of the aircraft producer’s stock valued at $530,000 after purchasing an additional 66 shares during the period. Peoples Financial Services CORP. lifted its position in Boeing by 0.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 8,893 shares of the aircraft producer’s stock valued at $1,352,000 after purchasing an additional 67 shares during the period. GSG Advisors LLC increased its stake in shares of Boeing by 4.7% in the 4th quarter. GSG Advisors LLC now owns 1,490 shares of the aircraft producer’s stock valued at $264,000 after acquiring an additional 67 shares during the last quarter. Finally, Altus Wealth Group LLC increased its stake in shares of Boeing by 5.7% in the 3rd quarter. Altus Wealth Group LLC now owns 1,325 shares of the aircraft producer’s stock valued at $201,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent analyst reports. Barclays raised Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price target on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Finally, UBS Group lowered their target price on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Price Performance

Shares of Boeing stock opened at $171.14 on Friday. The stock 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 one year low of $137.03 and a one year high of $217.59. The business’s 50 day simple moving average is $163.15 and its two-hundred day simple moving average is $164.89.

Boeing (NYSE:BA) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the company earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -16.43 earnings per share for the current fiscal 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.