Lake Street Private Wealth LLC Purchases New Position in The Boeing Company (NYSE:BA)

Lake Street Private Wealth LLC acquired a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,449 shares of the aircraft producer’s stock, valued at approximately $433,000.

A number of other institutional investors also recently modified their holdings of BA. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter valued at about $28,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing in the second quarter valued at approximately $33,000. Cedar Wealth Management LLC bought a new position in Boeing in the 3rd quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in Boeing during the 2nd quarter worth $59,000. Finally, Planning Capital Management Corp boosted its position in Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.3 %

Shares of NYSE:BA opened at $171.14 on Friday. The firm has a market cap of $105.80 billion, a price-to-earnings ratio of -13.27 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The company’s fifty day simple moving average is $163.15 and its 200 day simple moving average is $164.89.

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

Wall Street Analysts Forecast Growth

BA has been the subject of a number of recent research reports. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, October 15th. The Goldman Sachs Group cut their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, UBS Group lowered their target price on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $192.21.

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.