Easterly Investment Partners LLC Makes New Investment in The Boeing Company (NYSE:BA)

Easterly Investment Partners LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 13,622 shares of the aircraft producer’s stock, valued at approximately $2,071,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lewis Asset Management LLC increased its holdings in Boeing by 38.9% in the 3rd quarter. Lewis Asset Management LLC now owns 5,318 shares of the aircraft producer’s stock worth $809,000 after buying an additional 1,488 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Boeing during the 3rd quarter valued at about $320,000. Portside Wealth Group LLC lifted its position in shares of Boeing by 46.5% during the 3rd quarter. Portside Wealth Group LLC now owns 14,139 shares of the aircraft producer’s stock valued at $2,150,000 after buying an additional 4,491 shares in the last quarter. Hara Capital LLC purchased a new position in Boeing in the 3rd quarter worth approximately $123,000. Finally, Keudell Morrison Wealth Management lifted its holdings in Boeing by 3.2% in the 3rd quarter. Keudell Morrison Wealth Management now owns 3,788 shares of the aircraft producer’s stock worth $576,000 after purchasing an additional 116 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Down 0.1 %

Shares of NYSE BA traded down $0.18 during midday trading on Friday, hitting $150.80. The stock had a trading volume of 3,972,099 shares, compared to its average volume of 8,982,604. The company has a market capitalization of $93.22 billion, a PE ratio of -11.63 and a beta of 1.57. The stock has a 50 day simple moving average of $156.17 and a 200-day simple moving average of $170.60. The Boeing Company has a 1 year low of $144.13 and a 1 year high of $267.54.

Boeing (NYSE:BA) last released its 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, analysts expect that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BA. Susquehanna reduced their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Stifel Nicolaus upped their price objective on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Boeing currently has an average rating of “Hold” and a consensus price target of $190.37.

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.