Essex Financial Services Inc. Buys 66 Shares of The Boeing Company (NYSE:BA)

Essex Financial Services Inc. grew its holdings in shares of The Boeing Company (NYSE:BA) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,094 shares of the aircraft producer’s stock after purchasing an additional 66 shares during the period. Essex Financial Services Inc.’s holdings in Boeing were worth $2,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BA. Jennison Associates LLC purchased a new position in shares of Boeing during the fourth quarter valued at approximately $960,397,000. Lazard Asset Management LLC boosted its position in shares of Boeing by 8,961.2% during 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 in the last quarter. Barclays PLC boosted its position in shares of Boeing by 54.5% during 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 in the last quarter. Invesco Ltd. boosted its position in shares of Boeing by 30.1% during 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 in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Boeing by 726.7% during 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 in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

BA stock opened at $171.45 on Thursday. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The business’s 50-day moving average is $184.61 and its two-hundred day moving average is $206.14. The company has a market cap of $105.25 billion, a price-to-earnings ratio of -48.30 and a beta of 1.54.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the company posted ($1.75) EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that The Boeing Company will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com lowered Boeing from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Barclays dropped their target price on Boeing from $235.00 to $190.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group dropped their target price on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Wells Fargo & Company dropped their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Finally, Royal Bank of Canada dropped their target price on Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Boeing presently has an average rating of “Hold” and an average 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.