Denver PWM LLC Buys Shares of 662 The Boeing Company (NYSE:BA)

Denver PWM LLC bought a new stake in The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 662 shares of the aircraft producer’s stock, valued at approximately $120,000.

A number of other hedge funds have also made changes to their positions in BA. Capital Research Global Investors raised 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 acquiring an additional 4,425,964 shares in the last quarter. Wellington Management Group LLP grew its holdings in Boeing by 563.9% during the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Boston Partners lifted its stake in shares of Boeing by 861.6% in the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock worth $467,338,000 after buying an additional 1,617,151 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Boeing during the 1st quarter worth $272,312,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BA. Sanford C. Bernstein cut their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Susquehanna reaffirmed a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Wells Fargo & Company reissued an “underweight” rating and set a $119.00 target price (down from $185.00) on shares of Boeing in a research report on Tuesday. Bank of America upped their price target on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Finally, Robert W. Baird reduced their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Boeing Trading Down 0.7 %

NYSE BA opened at $162.15 on Friday. The company has a fifty day simple moving average of $177.02 and a 200 day simple moving average of $181.13. The Boeing Company has a 12-month low of $158.30 and a 12-month high of $267.54. The company has a market cap of $99.54 billion, a P/E ratio of -45.68 and a beta of 1.56.

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 the consensus estimate of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period last year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts predict 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.