Waterway Wealth Management LLC Takes Position in The Boeing Company (NYSE:BA)

Waterway Wealth Management LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,159 shares of the aircraft producer’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BA. Rothschild Investment LLC IL raised its stake in Boeing by 21.1% in the third quarter. Rothschild Investment LLC IL now owns 75,101 shares of the aircraft producer’s stock worth $14,395,000 after buying an additional 13,079 shares in the last quarter. Meridian Wealth Management LLC raised its stake in Boeing by 86.8% in the third quarter. Meridian Wealth Management LLC now owns 24,776 shares of the aircraft producer’s stock worth $4,749,000 after buying an additional 11,510 shares in the last quarter. Morse Asset Management Inc raised its stake in Boeing by 65.0% in the third quarter. Morse Asset Management Inc now owns 7,999 shares of the aircraft producer’s stock worth $1,533,000 after buying an additional 3,152 shares in the last quarter. Peregrine Asset Advisers Inc. raised its stake in Boeing by 1,335.3% in the third quarter. Peregrine Asset Advisers Inc. now owns 36,443 shares of the aircraft producer’s stock worth $6,985,000 after buying an additional 33,904 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Boeing by 2.0% in the third quarter. California Public Employees Retirement System now owns 1,037,044 shares of the aircraft producer’s stock worth $198,781,000 after buying an additional 19,847 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BA has been the subject of a number of research reports. Susquehanna decreased their price target on shares of Boeing from $265.00 to $230.00 and set a “positive” rating for the company in a research note on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of Boeing from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday. TD Cowen decreased their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday. William Blair began coverage on shares of Boeing in a research note on Tuesday, December 12th. They set an “outperform” rating for the company. Finally, Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.65.

Boeing Stock Down 2.0 %

BA traded down $3.88 during trading on Tuesday, hitting $187.53. The company’s stock had a trading volume of 8,959,260 shares, compared to its average volume of 10,572,038. The Boeing Company has a one year low of $176.25 and a one year high of $267.54. The firm has a market cap of $114.42 billion, a PE ratio of -50.96, a P/E/G ratio of 24.80 and a beta of 1.52. The business’s 50 day simple moving average is $201.07 and its 200-day simple moving average is $210.13.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The business had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.75) earnings per share. Equities research analysts expect that The Boeing Company will post 1.9 EPS for the current fiscal year.

Boeing Company 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.