Royal Fund Management LLC Takes $201,000 Position in The Boeing Company (NYSE:BA)

Royal Fund Management LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,138 shares of the aircraft producer’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently added to or reduced their stakes in BA. American Century Companies Inc. lifted its stake in Boeing by 20.8% during the second quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer’s stock valued at $8,189,000 after purchasing an additional 7,739 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Boeing by 5.3% in the second quarter. Pacer Advisors Inc. now owns 41,287 shares of the aircraft producer’s stock valued at $7,515,000 after buying an additional 2,066 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Boeing by 28.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,646 shares of the aircraft producer’s stock valued at $5,942,000 after acquiring an additional 7,182 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of Boeing by 1,401.6% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,778 shares of the aircraft producer’s stock worth $506,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Boeing by 72.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,790 shares of the aircraft producer’s stock worth $3,966,000 after acquiring an additional 9,171 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BA. UBS Group decreased their price target on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.21.

Boeing Price Performance

Boeing stock opened at $175.63 on Wednesday. The Boeing Company has a one year low of $137.03 and a one year high of $217.59. The company’s fifty day moving average price is $163.59 and its two-hundred day moving average price is $164.52. The company has a market capitalization of $108.58 billion, a price-to-earnings ratio of -13.61 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.26) earnings per share. As a group, sell-side analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current 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.