Magnolia Capital Advisors LLC Acquires New Stake in The Boeing Company (NYSE:BA)

Magnolia Capital Advisors LLC acquired a new stake in The Boeing Company (NYSE:BA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 65,955 shares of the aircraft producer’s stock, valued at approximately $12,004,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Capital Research Global Investors boosted its holdings in shares of Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boeing by 563.9% in the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after buying an additional 1,884,850 shares in the last quarter. Global Assets Advisory LLC purchased a new position in shares of Boeing during the first quarter valued at $272,312,000. Finally, Vanguard Group Inc. raised its holdings in shares of Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BA. UBS Group dropped their target price on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Stifel Nicolaus lifted their price objective on shares of 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 set a $230.00 target price on shares of Boeing in a report on Wednesday, August 14th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $119.00 target price (down previously from $185.00) on shares of Boeing in a research report on Tuesday, September 3rd. Finally, Bank of America boosted their price target on Boeing from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.83.

Boeing Trading Up 1.1 %

Shares of Boeing stock opened at $156.32 on Friday. The firm’s 50 day simple moving average is $168.52 and its two-hundred day simple moving average is $176.15. The firm has a market capitalization of $95.96 billion, a price-to-earnings ratio of -44.03 and a beta of 1.57. The Boeing Company has a 12-month low of $151.65 and a 12-month 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. Boeing’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.82) earnings per share. On average, sell-side analysts predict that The Boeing Company will post -4.27 EPS for the current fiscal year.

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.