Ellenbecker Investment Group Makes New $209,000 Investment in The Boeing Company (NYSE:BA)

Ellenbecker Investment Group purchased a new position in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 802 shares of the aircraft producer’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Boeing by 0.8% in the third quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares in the last quarter. Morgan Stanley boosted its holdings in Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after acquiring an additional 91,801 shares in the last quarter. Northern Trust Corp boosted its holdings in Boeing by 3.2% in the third quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock worth $949,042,000 after acquiring an additional 153,168 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Boeing in the fourth quarter valued at approximately $960,397,000. Finally, Invesco Ltd. lifted its holdings in shares of Boeing by 30.1% in the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after purchasing an additional 759,267 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Royal Bank of Canada dropped their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Citigroup dropped their target price on Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Sanford C. Bernstein dropped their target price on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. The Goldman Sachs Group dropped their target price on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Finally, Morgan Stanley dropped their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.71.

Boeing Stock Performance

NYSE:BA traded down $1.30 during trading hours on Tuesday, reaching $169.18. The stock had a trading volume of 7,551,067 shares, compared to its average volume of 9,611,772. The stock has a market cap of $103.22 billion, a P/E ratio of -46.18, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52. The Boeing Company has a 12-month low of $167.53 and a 12-month high of $267.54. The stock has a 50 day simple moving average of $189.51 and a 200 day simple moving average of $207.32.

Boeing (NYSE:BA) last announced its quarterly earnings results 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 company had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.75) earnings per share. On average, equities analysts expect that The Boeing Company will post 0.32 earnings per share 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.