Granite Bay Wealth Management LLC Purchases New Shares in The Boeing Company (NYSE:BA)

Granite Bay Wealth Management LLC purchased a new stake in The Boeing Company (NYSE:BA) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,150 shares of the aircraft producer’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BA. KBC Group NV raised its position in Boeing by 8.2% in the 4th quarter. KBC Group NV now owns 39,196 shares of the aircraft producer’s stock valued at $10,217,000 after purchasing an additional 2,977 shares during the last quarter. Jones Financial Companies Lllp raised 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 worth $824,000 after buying an additional 235 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Boeing by 1.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 467,769 shares of the aircraft producer’s stock worth $121,929,000 after buying an additional 5,820 shares during the last quarter. CWA Asset Management Group LLC raised its position in Boeing by 14.0% during the 4th quarter. CWA Asset Management Group LLC now owns 1,876 shares of the aircraft producer’s stock worth $489,000 after buying an additional 231 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its position in Boeing by 28.3% during the 4th quarter. Belpointe Asset Management LLC now owns 6,728 shares of the aircraft producer’s stock worth $1,754,000 after buying an additional 1,486 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, UBS Group lowered their price target 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. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.67.

Boeing Trading Up 1.4 %

Shares of NYSE BA opened at $154.24 on Wednesday. The Boeing Company has a 52 week low of $149.49 and a 52 week high of $267.54. The stock has a market cap of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57. The company’s 50-day moving average price is $167.34 and its 200 day moving average price is $175.70.

Boeing (NYSE:BA) last released its quarterly 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 business had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the company earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts expect that The Boeing Company will post -4.27 earnings per share for the current 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.