ACT Wealth Management LLC Buys New Shares in The Boeing Company (NYSE:BA)

ACT Wealth Management LLC purchased a new stake in The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 831 shares of the aircraft producer’s stock, valued at approximately $217,000.

Several other hedge funds also recently added to or reduced their stakes in the business. CNB Bank boosted its stake in shares of Boeing by 106.5% during the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Boeing during the 2nd quarter worth approximately $32,000. True Wealth Design LLC acquired a new stake in shares of Boeing during the 4th quarter worth approximately $33,000. Park Place Capital Corp increased its holdings in shares of Boeing by 185.1% during the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after buying an additional 137 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in Boeing in the fourth quarter valued at approximately $41,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 0.0 %

BA stock opened at $191.92 on Thursday. The stock’s 50 day simple moving average is $200.81 and its 200 day simple moving average is $209.96. The Boeing Company has a fifty-two week low of $176.25 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the company posted ($1.75) earnings per share. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that The Boeing Company will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

BA has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Tuesday. TD Cowen reduced their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday. Susquehanna reduced their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research report on Thursday, March 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $235.00 target price on shares of Boeing in a report on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $270.00 price target on shares of Boeing in a report on Monday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.65.

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.