Lake Street Financial LLC Boosts Stock Position in The Boeing Company (NYSE:BA)

Lake Street Financial LLC increased its stake in shares of The Boeing Company (NYSE:BAGet Rating) by 4.5% in the first quarter, HoldingsChannel reports. The firm owned 3,298 shares of the aircraft producer’s stock after buying an additional 143 shares during the quarter. Lake Street Financial LLC’s holdings in Boeing were worth $632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CKW Financial Group lifted its holdings in shares of Boeing by 25.0% in the fourth quarter. CKW Financial Group now owns 250 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 50 shares during the period. Mengis Capital Management Inc. lifted its holdings in shares of Boeing by 1.6% in the fourth quarter. Mengis Capital Management Inc. now owns 3,483 shares of the aircraft producer’s stock valued at $701,000 after buying an additional 55 shares during the period. Meridian Wealth Partners LLC lifted its holdings in shares of Boeing by 4.4% in the fourth quarter. Meridian Wealth Partners LLC now owns 1,308 shares of the aircraft producer’s stock valued at $263,000 after buying an additional 55 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Boeing by 0.5% in the first quarter. Lindbrook Capital LLC now owns 11,361 shares of the aircraft producer’s stock valued at $2,176,000 after buying an additional 56 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Boeing by 42.1% in the first quarter. Blue Bell Private Wealth Management LLC now owns 189 shares of the aircraft producer’s stock valued at $36,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 53.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BA. JPMorgan Chase & Co. upped their target price on Boeing from $188.00 to $200.00 in a report on Thursday, July 28th. Robert W. Baird reaffirmed an “outperform” rating and set a $245.00 target price on shares of Boeing in a report on Thursday, July 7th. Benchmark reduced their target price on Boeing from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, July 15th. Wells Fargo & Company dropped their price target on Boeing from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Finally, Susquehanna Bancshares dropped their price target on Boeing from $193.00 to $192.00 and set a “positive” rating on the stock in a research report on Friday, May 20th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.56.

Boeing Stock Performance

BA opened at $165.04 on Friday. The company has a market cap of $98.00 billion, a PE ratio of -18.44 and a beta of 1.38. The stock has a 50-day moving average of $143.80 and a 200-day moving average of $166.80. The Boeing Company has a 52-week low of $113.02 and a 52-week high of $241.15.

Boeing (NYSE:BAGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The aircraft producer reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.23). The firm had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $17.53 billion. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, research analysts predict that The Boeing Company will post -1.69 earnings per share for the current year.

About Boeing

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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

Further Reading

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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