Sterling Investment Management LLC Acquires 2,899 Shares of The Boeing Company (NYSE:BA)

Sterling Investment Management LLC increased its stake in The Boeing Company (NYSE:BA) by 35.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,043 shares of the aircraft producer’s stock after buying an additional 2,899 shares during the period. Boeing accounts for about 1.5% of Sterling Investment Management LLC’s holdings, making the stock its 24th largest holding. Sterling Investment Management LLC’s holdings in Boeing were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in Boeing during the 4th quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new position in Boeing during the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter worth approximately $30,000. Planning Capital Management Corp grew its position in Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Boeing during the 3rd quarter valued at $58,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. UBS Group lowered their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Performance

Shares of NYSE BA opened at $175.63 on Wednesday. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59. The firm’s fifty day moving average is $163.59 and its two-hundred day moving average is $164.52. The company has a market cap of $108.58 billion, a P/E ratio of -13.61 and a beta of 1.52.

Boeing (NYSE:BA) last posted 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 firm had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.26) EPS. As a group, analysts forecast that The Boeing Company will post -16.43 EPS for the current fiscal year.

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.