Oppenheimer Asset Management Inc. Has $4.56 Million Holdings in The Boeing Company (NYSE:BA)

Oppenheimer Asset Management Inc. raised its position in The Boeing Company (NYSE:BA) by 1,142.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,037 shares of the aircraft producer’s stock after purchasing an additional 23,022 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Boeing were worth $4,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Brio Consultants LLC acquired a new stake in shares of Boeing in the 4th quarter valued at about $207,000. Gryphon Financial Partners LLC bought a new position in shares of Boeing in the 4th quarter valued at about $258,000. Level Four Advisory Services LLC grew its holdings in shares of Boeing by 14.2% in the 4th quarter. Level Four Advisory Services LLC now owns 8,224 shares of the aircraft producer’s stock valued at $2,144,000 after acquiring an additional 1,022 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Boeing by 3.2% in the 4th quarter. Brown Advisory Inc. now owns 45,211 shares of the aircraft producer’s stock valued at $11,785,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Main Street Financial Solutions LLC bought a new position in shares of Boeing in the 4th quarter valued at about $252,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Down 3.7 %

Shares of NYSE:BA opened at $156.77 on Monday. The Boeing Company has a 12-month low of $155.60 and a 12-month high of $267.54. The stock has a market cap of $96.60 billion, a PE ratio of -44.16 and a beta of 1.57. The business has a 50 day moving average of $174.10 and a 200-day moving average of $179.04.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the firm posted ($0.82) EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts expect that The Boeing Company will post -4.26 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BA. Stifel Nicolaus raised their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna restated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a report on Wednesday, August 14th. Sanford C. Bernstein decreased their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Bank of America lifted their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

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.