Beacon Pointe Advisors LLC Has $12.92 Million Holdings in The Boeing Company (NYSE:BA)

Beacon Pointe Advisors LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,004 shares of the aircraft producer’s stock after acquiring an additional 2,219 shares during the period. Beacon Pointe Advisors LLC’s holdings in Boeing were worth $12,922,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BA. Sierra Ocean LLC bought a new position in shares of Boeing during the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Boeing during the fourth quarter worth approximately $27,000. Fiduciary Advisors Inc. bought a new position in shares of Boeing during the fourth quarter worth approximately $28,000. HighMark Wealth Management LLC increased its holdings in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after purchasing an additional 90 shares during the period. Finally, Anfield Capital Management LLC increased its holdings in shares of Boeing by 113.1% during the fourth quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 95 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

Shares of Boeing stock opened at $182.23 on Tuesday. The Boeing Company has a 52 week low of $128.88 and a 52 week high of $196.95. The stock has a 50 day moving average price of $164.80 and a two-hundred day moving average price of $165.04. The stock has a market capitalization of $137.40 billion, a PE ratio of -9.95 and a beta of 1.24.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.39) by $0.90. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. Boeing’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.13) EPS. Research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of Boeing from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. StockNews.com raised shares of Boeing to a “sell” rating in a report on Thursday, April 24th. Susquehanna upped their price objective on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. TD Securities restated a “buy” rating and set a $180.00 price objective on shares of Boeing in a research report on Thursday, April 24th. Finally, Citigroup upped their price objective on Boeing from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.90.

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the transaction, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. This trade represents a 14.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

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.