Monte Financial Group LLC Takes Position in The Boeing Company (NYSE:BA)

Monte Financial Group LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,284 shares of the aircraft producer’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after buying an additional 636,594 shares during the period. Geode Capital Management LLC increased its holdings in Boeing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after buying an additional 320,415 shares during the period. Jennison Associates LLC grew its position in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares during the period. Fisher Asset Management LLC boosted its position in Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of research analyst reports. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. TD Cowen decreased their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Robert W. Baird cut their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

Boeing Stock Performance

Shares of BA opened at $175.95 on Friday. The stock has a 50 day simple moving average of $166.42 and a 200 day simple moving average of $164.56. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $214.63. The firm has a market capitalization of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned ($3.26) earnings per share. Equities research analysts predict that The Boeing Company will post -16.39 EPS 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.