Paul R. Ried Financial Group LLC Purchases New Position in The Boeing Company (NYSE:BA)

Paul R. Ried Financial Group LLC purchased a new stake in The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,526 shares of the aircraft producer’s stock, valued at approximately $2,748,000. Boeing comprises about 1.9% of Paul R. Ried Financial Group LLC’s holdings, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in 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 purchasing an additional 710 shares during the period. Carnegie Investment Counsel increased its stake in Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 2,943 shares during the period. Rockefeller Capital Management L.P. increased its stake in 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 during the period. Principal Financial Group Inc. increased its stake in 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 period. Finally, Jennison Associates LLC increased its stake in Boeing by 9.9% in the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Trading Down 0.3 %

BA stock opened at $175.95 on Tuesday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $213.77. The company has a market cap of $108.77 billion, a P/E ratio of -9.60 and a beta of 1.52. The company’s 50-day moving average price is $169.50 and its 200 day moving average price is $164.05.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the prior year, the firm earned ($0.47) EPS. On average, equities research analysts expect that The Boeing Company will post -2.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BA. Northcoast Research upgraded shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Morgan Stanley dropped their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. TD Cowen dropped their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.00.

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.