Geneos Wealth Management Inc. Boosts Stake in The Boeing Company (NYSE:BA)

Geneos Wealth Management Inc. boosted its position in shares of The Boeing Company (NYSE:BA) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,508 shares of the aircraft producer’s stock after buying an additional 237 shares during the period. Geneos Wealth Management Inc.’s holdings in Boeing were worth $2,478,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BA. Rothschild Investment LLC IL lifted its stake in shares of Boeing by 21.1% in the third quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock valued at $14,395,000 after purchasing an additional 13,079 shares during the period. Meridian Wealth Management LLC increased its holdings in Boeing by 86.8% in the third quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock valued at $4,749,000 after buying an additional 11,510 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of Boeing by 65.0% during the 3rd quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock valued at $1,533,000 after acquiring an additional 3,152 shares during the period. Peregrine Asset Advisers Inc. grew its holdings in shares of Boeing by 1,335.3% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after acquiring an additional 33,904 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Boeing by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after acquiring an additional 19,847 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of BA stock opened at $174.62 on Thursday. The stock has a market capitalization of $106.54 billion, a price-to-earnings ratio of -47.45, a PEG ratio of 46.52 and a beta of 1.52. The Boeing Company has a one year low of $172.44 and a one year high of $267.54. The company’s 50-day simple moving average is $195.75 and its 200-day simple moving average is $208.38.

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 the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.75) earnings per share. As a group, research analysts forecast that The Boeing Company will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of several recent research reports. Melius Research restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. TD Cowen reduced their target price on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Finally, Stifel Nicolaus reduced their price objective on Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.71.

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.