Patrick M Sweeney & Associates Inc. Boosts Stock Holdings in The Boeing Company (NYSE:BA)

Patrick M Sweeney & Associates Inc. lifted its holdings in The Boeing Company (NYSE:BA) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,862 shares of the aircraft producer’s stock after purchasing an additional 186 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Boeing were worth $587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at about $34,000. McClarren Financial Advisors Inc. raised its holdings in Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Boeing in the 2nd quarter worth approximately $39,000. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 1.8 %

Shares of BA stock opened at $157.06 on Thursday. The Boeing Company has a 52-week low of $146.02 and a 52-week high of $267.54. The stock has a market cap of $96.42 billion, a PE ratio of -44.24 and a beta of 1.57. The business has a 50-day simple moving average of $160.61 and a 200-day simple moving average of $172.01.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday, October 14th. Morgan Stanley lowered their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, Stifel Nicolaus upped their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.79.

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.