The Boeing Company (NYSE:BA) Shares Bought by Orca Investment Management LLC

Orca Investment Management LLC boosted its holdings in shares of The Boeing Company (NYSE:BA) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,772 shares of the aircraft producer’s stock after buying an additional 195 shares during the quarter. Orca Investment Management LLC’s holdings in Boeing were worth $983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jennison Associates LLC purchased a new stake in shares of Boeing during the fourth quarter worth about $960,397,000. Lazard Asset Management LLC grew its holdings in Boeing by 8,961.2% in the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after purchasing an additional 1,148,643 shares during the period. Barclays PLC grew its holdings in Boeing by 54.5% in the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after purchasing an additional 829,321 shares during the period. Invesco Ltd. grew its holdings in Boeing by 30.1% in the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after purchasing an additional 759,267 shares during the period. Finally, Cerity Partners LLC grew its holdings in Boeing by 726.7% in the fourth quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock valued at $162,888,000 after purchasing an additional 549,318 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 3.9 %

BA traded up $6.47 on Monday, reaching $173.69. The company had a trading volume of 6,608,928 shares, compared to its average volume of 9,714,273. The company has a fifty day moving average of $186.53 and a 200-day moving average of $206.63. The company has a market capitalization of $106.62 billion, a P/E ratio of -48.47 and a beta of 1.52. The Boeing Company has a one year low of $159.70 and a one year high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.75) EPS. Research analysts predict that The Boeing Company will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lowered their target price on shares of Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their price objective on shares of Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Melius reiterated a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Finally, Sanford C. Bernstein decreased their price objective on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.41.

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.