Quarry LP Increases Holdings in The Boeing Company (NYSE:BA)

Quarry LP grew its holdings in The Boeing Company (NYSE:BA) by 68.3% during the second quarter, HoldingsChannel reports. The fund owned 611 shares of the aircraft producer’s stock after purchasing an additional 248 shares during the period. Quarry LP’s holdings in Boeing were worth $111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in Boeing in the fourth quarter valued at $26,000. Vima LLC acquired a new stake in shares of Boeing during the fourth quarter worth about $34,000. Accent Capital Management LLC purchased a new stake in shares of Boeing in the 4th quarter valued at about $39,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Boeing in the 4th quarter valued at about $48,000. Finally, Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Stock Up 1.4 %

Shares of 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 company has a 50-day simple moving average of $167.34 and a 200-day simple moving average of $175.70. The company has a market capitalization of $94.69 billion, a PE ratio of -43.45 and a beta of 1.57.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) 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. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the firm posted ($0.82) EPS. On average, research analysts anticipate that The Boeing Company will post -4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 price target on shares of Boeing in a research note on Tuesday, June 25th. TD Cowen dropped their price objective on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday. Sanford C. Bernstein decreased their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.67.

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.