Barnes Pettey Financial Advisors LLC Takes Position in The Boeing Company (NYSE:BA)

Barnes Pettey Financial Advisors LLC purchased a new position in The Boeing Company (NYSE:BA) in the fourth quarter, Holdings Channel reports. The fund purchased 1,255 shares of the aircraft producer’s stock, valued at approximately $222,000.

Several other institutional investors also recently bought and sold shares of BA. AdvisorNet Financial Inc lifted its position in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock valued at $358,000 after acquiring an additional 710 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in shares of Boeing by 175.6% during the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after purchasing an additional 2,943 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Boeing by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock valued at $72,075,000 after purchasing an additional 38,300 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after purchasing an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Trading Up 3.3 %

Boeing stock opened at $179.47 on Friday. The stock has a market cap of $110.95 billion, a P/E ratio of -13.91 and a beta of 1.52. The company has a fifty day simple moving average of $168.24 and a 200-day simple moving average of $164.26. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $214.63.

Boeing (NYSE:BA) last posted its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) earnings per share. As a group, sell-side analysts forecast that The Boeing Company will post -16.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. Citigroup dropped their target price on Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a report on Friday, January 24th. TD Cowen cut their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday. DZ Bank lowered Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.