Monte Financial Group LLC Buys New Shares in The Boeing Company (NYSE:BA)

Monte Financial Group LLC purchased a new position in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,284 shares of the aircraft producer’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its position in Boeing by 28.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock worth $5,942,000 after purchasing an additional 7,182 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Boeing by 72.7% during the second quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock valued at $3,966,000 after acquiring an additional 9,171 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in Boeing by 45.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,078 shares of the aircraft producer’s stock worth $560,000 after purchasing an additional 969 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Boeing in the second quarter valued at $309,000. Finally, MBB Public Markets I LLC increased its holdings in Boeing by 1,878.3% in the second quarter. MBB Public Markets I LLC now owns 40,694 shares of the aircraft producer’s stock valued at $7,407,000 after buying an additional 38,637 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.4 %

Shares of Boeing stock opened at $175.95 on Friday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $214.63. The company’s 50-day moving average price is $166.42 and its two-hundred day moving average price is $164.56. The stock has a market cap of $108.77 billion, a PE ratio of -13.64 and a beta of 1.52.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the firm earned ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -16.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Susquehanna cut their price target on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Citigroup dropped their target price on Boeing from $209.00 to $207.00 and set a “buy” rating on the stock in a research report on Friday. Finally, TD Cowen reduced their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.11.

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.