Mainstream Capital Management LLC Invests $320,000 in The Boeing Company (NYSE:BA)

Mainstream Capital Management LLC acquired a new position in The Boeing Company (NYSE:BA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,102 shares of the aircraft producer’s stock, valued at approximately $320,000.

A number of other hedge funds have also recently made changes to their positions in BA. Portside Wealth Group LLC lifted its position in shares of Boeing by 46.5% in the third quarter. Portside Wealth Group LLC now owns 14,139 shares of the aircraft producer’s stock worth $2,150,000 after buying an additional 4,491 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Boeing in the third quarter worth about $123,000. Keudell Morrison Wealth Management lifted its position in shares of Boeing by 3.2% in the third quarter. Keudell Morrison Wealth Management now owns 3,788 shares of the aircraft producer’s stock worth $576,000 after buying an additional 116 shares in the last quarter. Washington Trust Bank lifted its position in shares of Boeing by 2.8% in the third quarter. Washington Trust Bank now owns 65,286 shares of the aircraft producer’s stock worth $9,926,000 after buying an additional 1,765 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Boeing by 6.1% in the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after buying an additional 38,332 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $150.98 on Friday. The stock has a 50-day moving average of $156.17 and a two-hundred day moving average of $170.60. The Boeing Company has a one year low of $144.13 and a one year high of $267.54. The stock has a market cap of $93.34 billion, a P/E ratio of -11.70 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company posted ($3.26) earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that The Boeing Company will post -16.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BA shares. Susquehanna decreased their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. UBS Group decreased their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.37.

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.