Drive Wealth Management LLC Buys 375 Shares of The Boeing Company (NYSE:BA)

Drive Wealth Management LLC increased its stake in The Boeing Company (NYSE:BA) by 25.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,876 shares of the aircraft producer’s stock after purchasing an additional 375 shares during the quarter. Drive Wealth Management LLC’s holdings in Boeing were worth $341,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BA. JFS Wealth Advisors LLC increased its holdings in Boeing by 2.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 2,536 shares of the aircraft producer’s stock worth $661,000 after buying an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Boeing by 1.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,198 shares of the aircraft producer’s stock worth $1,094,000 after acquiring an additional 50 shares during the period. Davis R M Inc. raised its holdings in shares of Boeing by 1.8% during the fourth quarter. Davis R M Inc. now owns 2,943 shares of the aircraft producer’s stock valued at $767,000 after purchasing an additional 52 shares during the last quarter. Westpac Banking Corp lifted its position in Boeing by 1.6% during the fourth quarter. Westpac Banking Corp now owns 3,336 shares of the aircraft producer’s stock valued at $870,000 after purchasing an additional 54 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in Boeing by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BA shares. Stifel Nicolaus boosted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Wells Fargo & Company cut their price target on Boeing from $190.00 to $185.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, June 3rd. Finally, UBS Group cut their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.18.

Boeing Stock Performance

Shares of BA stock opened at $173.74 on Monday. The stock has a fifty day simple moving average of $178.13 and a two-hundred day simple moving average of $181.91. The firm has a market capitalization of $107.05 billion, a PE ratio of -48.94 and a beta of 1.56. The Boeing Company has a 52-week low of $159.70 and a 52-week high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the company earned ($0.82) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that The Boeing Company will post -4.26 EPS for the current fiscal year.

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.