Focused Wealth Management Inc Makes New Investment in The Boeing Company (NYSE:BA)

Focused Wealth Management Inc bought a new position in The Boeing Company (NYSE:BA) in the 3rd quarter, Holdings Channel reports. The firm bought 3,031 shares of the aircraft producer’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Vanguard Group Inc. raised its stake in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after buying an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC raised its position in shares of Boeing by 1.2% in the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after acquiring an additional 388,633 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Boeing by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock worth $1,386,757,000 after purchasing an additional 106,513 shares during the last quarter. Legal & General Group Plc boosted its position in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after purchasing an additional 67,474 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Boeing by 122.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $150.99 on Wednesday. The business has a fifty day moving average price of $156.65 and a 200 day moving average price of $170.77. The company has a market cap of $93.34 billion, a P/E ratio of -11.70 and a beta of 1.57. The Boeing Company has a one year low of $146.02 and a one year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm posted ($3.26) EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Boeing Company will post -16.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BA. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, October 30th. Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group decreased their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Finally, Benchmark reissued a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Hold” and a consensus target price of $190.37.

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.