Stonebrook Private Inc. Acquires Shares of 2,971 The Boeing Company (NYSE:BA)

Stonebrook Private Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,971 shares of the aircraft producer’s stock, valued at approximately $775,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC raised its stake in Boeing by 8.2% during the 4th quarter. Transcend Capital Advisors LLC now owns 8,078 shares of the aircraft producer’s stock valued at $2,106,000 after acquiring an additional 609 shares during the last quarter. Opinicus Capital Inc. purchased a new position in shares of Boeing during the 4th quarter worth approximately $320,000. Consolidated Planning Corp raised its stake in shares of Boeing by 2.5% during the 4th quarter. Consolidated Planning Corp now owns 27,882 shares of the aircraft producer’s stock worth $7,268,000 after buying an additional 693 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Boeing by 245.0% during the 4th quarter. Intact Investment Management Inc. now owns 3,450 shares of the aircraft producer’s stock worth $899,000 after buying an additional 2,450 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Boeing by 18.3% during the 4th quarter. Russell Investments Group Ltd. now owns 80,590 shares of the aircraft producer’s stock worth $21,005,000 after buying an additional 12,493 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BA. Northcoast Research downgraded Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price for the company. in a research note on Wednesday, April 17th. Bank of America dropped their price objective on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price objective on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. StockNews.com downgraded Boeing from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Edward Jones downgraded Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average target price of $222.41.

Boeing Price Performance

BA stock traded up $0.41 during trading on Friday, reaching $167.22. 7,208,103 shares of the stock traded hands, compared to its average volume of 7,379,195. The business’s 50 day moving average price is $186.53 and its 200-day moving average price is $206.55. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54. The firm has a market capitalization of $102.65 billion, a PE ratio of -47.10, a P/E/G ratio of 140.43 and a beta of 1.52.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period last year, the firm posted ($1.75) EPS. Boeing’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that The Boeing Company will post -0.3 earnings per share for the current year.

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.