Picton Mahoney Asset Management Boosts Stake in The Boeing Company (NYSE:BA)

Picton Mahoney Asset Management lifted its position in The Boeing Company (NYSE:BA) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,980 shares of the aircraft producer’s stock after buying an additional 3,313 shares during the quarter. Boeing makes up 0.7% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 13th largest holding. Picton Mahoney Asset Management’s holdings in Boeing were worth $25,539,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Boeing by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares in the last quarter. Morgan Stanley grew its stake in Boeing by 1.1% in the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after acquiring an additional 91,801 shares during the last quarter. Northern Trust Corp lifted its holdings in Boeing by 3.2% in the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock valued at $949,042,000 after purchasing an additional 153,168 shares in the last quarter. Jennison Associates LLC purchased a new position in Boeing in the 4th quarter valued at about $960,397,000. Finally, Invesco Ltd. lifted its holdings in Boeing by 30.1% in the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after purchasing an additional 759,267 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.9 %

NYSE:BA traded down $1.64 during trading hours on Tuesday, hitting $176.71. The stock had a trading volume of 5,070,139 shares, compared to its average volume of 9,605,755. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The business has a 50 day simple moving average of $182.80 and a two-hundred day simple moving average of $206.14. The company has a market cap of $108.48 billion, a PE ratio of -49.78 and a beta of 1.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BA shares. The Goldman Sachs Group cut their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Sanford C. Bernstein cut their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. UBS Group cut their price objective on shares of Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. TD Cowen cut 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, Stifel Nicolaus cut their price objective on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $222.41.

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.