Ironwood Investment Management LLC Makes New $339,000 Investment in The Boeing Company (NYSE:BA)

Ironwood Investment Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,864 shares of the aircraft producer’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brio Consultants LLC bought a new position in Boeing during the 4th quarter worth $207,000. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the fourth quarter worth about $258,000. Rathbones Group PLC lifted its stake in shares of Boeing by 0.6% in the fourth quarter. Rathbones Group PLC now owns 14,833 shares of the aircraft producer’s stock worth $3,866,000 after acquiring an additional 85 shares during the period. KBC Group NV boosted its holdings in Boeing by 8.2% in the fourth quarter. KBC Group NV now owns 39,196 shares of the aircraft producer’s stock valued at $10,217,000 after acquiring an additional 2,977 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Boeing by 8.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,162 shares of the aircraft producer’s stock valued at $824,000 after purchasing an additional 235 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

Shares of NYSE BA opened at $156.32 on Monday. The firm’s 50-day simple moving average is $168.52 and its 200 day simple moving average is $176.10. The stock has a market cap of $95.96 billion, a price-to-earnings ratio of -44.03 and a beta of 1.57. The Boeing Company has a fifty-two week low of $151.65 and a fifty-two week high of $267.54.

Boeing (NYSE:BA) last announced 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 the consensus estimate of $17.35 billion. The firm’s revenue 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 year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Jefferies Financial Group cut their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Susquehanna reissued a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. Baird R W upgraded Boeing to a “strong-buy” rating in a research report on Monday, June 3rd. Finally, Stifel Nicolaus lifted their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $209.83.

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.