Axxcess Wealth Management LLC Boosts Position in The Boeing Company (NYSE:BA)

Axxcess Wealth Management LLC lifted its position in The Boeing Company (NYSE:BA) by 14.2% in the second quarter, HoldingsChannel reports. The firm owned 15,846 shares of the aircraft producer’s stock after buying an additional 1,970 shares during the period. Axxcess Wealth Management LLC’s holdings in Boeing were worth $2,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BA. Capital Research Global Investors grew its stake in shares of Boeing by 35.5% in the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after buying an additional 4,425,964 shares during the period. Wellington Management Group LLP grew its position in Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after acquiring an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Boeing in the first quarter valued at $272,312,000. Finally, Vanguard Group Inc. lifted its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research note on Tuesday, September 3rd. Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Susquehanna restated a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Finally, Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Stock Up 0.5 %

Shares of NYSE:BA opened at $156.38 on Wednesday. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54. The stock has a market cap of $96.00 billion, a price-to-earnings ratio of -44.05 and a beta of 1.57. The firm’s 50 day moving average price is $172.95 and its 200 day moving average price is $178.39.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) EPS. On average, equities analysts anticipate that The Boeing Company will post -4.26 EPS for the current year.

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.