Ballast Inc. Has $1.05 Million Position in The Boeing Company (NYSE:BA)

Ballast Inc. raised its stake in The Boeing Company (NYSE:BA) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 6,910 shares of the aircraft producer’s stock after acquiring an additional 151 shares during the period. Ballast Inc.’s holdings in Boeing were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BA. Kiely Wealth Advisory Group Inc. acquired a new stake in Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. boosted its position in shares of Boeing by 451.4% in the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Boeing during the second quarter worth about $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE:BA opened at $155.31 on Friday. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The company has a 50 day simple moving average of $161.36 and a two-hundred day simple moving average of $172.88. The company has a market capitalization of $95.34 billion, a PE ratio of -43.75 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.82) EPS. Research analysts predict that The Boeing Company will post -5.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a research report on Monday. Finally, Susquehanna cut their price target on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.32.

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.