Stonebrook Private Inc. Takes $775,000 Position in The Boeing Company (NYSE:BA)

Stonebrook Private Inc. acquired a new stake in The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,971 shares of the aircraft producer’s stock, valued at approximately $775,000.

A number of other institutional investors also recently made changes to their positions in BA. U.S. Capital Wealth Advisors LLC increased its stake in Boeing by 8.0% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 11,139 shares of the aircraft producer’s stock valued at $2,135,000 after purchasing an additional 825 shares in the last quarter. Sunesis Advisors LLC purchased a new stake in shares of Boeing during the 3rd quarter valued at about $205,000. Lake Street Financial LLC boosted its holdings in shares of Boeing by 67.1% during the 3rd quarter. Lake Street Financial LLC now owns 2,136 shares of the aircraft producer’s stock valued at $407,000 after acquiring an additional 858 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Boeing by 118.4% during the 3rd quarter. Fulton Breakefield Broenniman LLC now owns 6,184 shares of the aircraft producer’s stock valued at $1,185,000 after acquiring an additional 3,352 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in shares of Boeing by 42.8% during the 3rd quarter. Ridgewood Investments LLC now owns 4,420 shares of the aircraft producer’s stock valued at $847,000 after acquiring an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of NYSE BA traded up $0.41 during mid-day trading on Friday, hitting $167.22. The company had a trading volume of 7,208,103 shares, compared to its average volume of 7,379,195. The firm has a market cap of $102.65 billion, a P/E ratio of -47.10, a PEG ratio of 140.43 and a beta of 1.52. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The business’s 50-day simple moving average is $186.53 and its 200-day simple moving average is $206.55.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. Boeing’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.75) EPS. As a group, sell-side analysts predict that The Boeing Company will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday. Melius Research reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. StockNews.com downgraded shares of Boeing from a “hold” rating to a “sell” rating in a report on Friday. TD Cowen dropped their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.41.

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.