Prosperity Wealth Management Inc. Acquires New Position in The Boeing Company (NYSE:BA)

Prosperity Wealth Management Inc. bought a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, Holdings Channel reports. The firm bought 2,334 shares of the aircraft producer’s stock, valued at approximately $413,000.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Boeing in the fourth quarter valued at $230,944,000. Amundi raised its holdings in shares of Boeing by 473.6% in the fourth quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after acquiring an additional 1,292,417 shares in the last quarter. Franklin Resources Inc. grew its stake in Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Boeing by 30.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock worth $739,585,000 after acquiring an additional 981,796 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the period. Institutional investors own 64.82% of the company’s stock.

Insider Buying and Selling

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total value of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Boeing in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft increased their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup raised their price target on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, UBS Group lifted their target price on Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Boeing Stock Up 4.1 %

Shares of NYSE BA opened at $154.19 on Wednesday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $196.95. The company has a market capitalization of $115.65 billion, a PE ratio of -8.42 and a beta of 1.53. The firm has a fifty day simple moving average of $174.00 and a 200 day simple moving average of $163.83.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) EPS. As a group, equities analysts expect that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

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.