Mainstream Capital Management LLC Invests $320,000 in The Boeing Company (NYSE:BA)

Mainstream Capital Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,102 shares of the aircraft producer’s stock, valued at approximately $320,000.

Other hedge funds also recently made changes to their positions in the company. Lazari Capital Management Inc. boosted its position in shares of Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Czech National Bank boosted its position in shares of Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock valued at $18,130,000 after purchasing an additional 9,281 shares in the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in shares of Boeing during the third quarter valued at approximately $11,237,000. Sanctuary Advisors LLC bought a new stake in shares of Boeing during the second quarter valued at approximately $21,405,000. Finally, Canal Insurance CO bought a new stake in shares of Boeing during the third quarter valued at approximately $1,520,000. 64.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lowered their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a research note on Monday. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Benchmark reiterated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

NYSE:BA opened at $150.98 on Friday. The stock has a 50-day simple moving average of $156.17 and a two-hundred day simple moving average of $170.60. The Boeing Company has a 52-week low of $144.13 and a 52-week high of $267.54. The firm has a market capitalization of $93.34 billion, a PE ratio of -11.70 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the company earned ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that The Boeing Company will post -16.09 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.