The Boeing Company (NYSE:BA) Shares Bought by Garner Asset Management Corp

Garner Asset Management Corp lifted its position in shares of The Boeing Company (NYSE:BA) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,888 shares of the aircraft producer’s stock after purchasing an additional 182 shares during the quarter. Garner Asset Management Corp’s holdings in Boeing were worth $708,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Boeing during the fourth quarter valued at $26,000. Vima LLC purchased a new stake in shares of Boeing during the 4th quarter worth about $34,000. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. increased its stake in shares of Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in Boeing in the 4th quarter worth about $39,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Performance

NYSE BA opened at $155.17 on Thursday. The stock’s fifty day moving average is $172.38 and its two-hundred day moving average is $178.23. The firm has a market capitalization of $95.26 billion, a P/E ratio of -43.71 and a beta of 1.57. The Boeing Company has a fifty-two week low of $154.02 and a fifty-two week high of $267.54.

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

Analysts Set New Price Targets

BA has been the topic of several research analyst reports. Bank of America raised their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Sanford C. Bernstein cut their price target on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Susquehanna restated a “positive” rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their target price on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird reduced their price target on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.