Foresight Global Investors Inc. Makes New Investment in The Boeing Company (NYSE:BA)

Foresight Global Investors Inc. acquired a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,575 shares of the aircraft producer’s stock, valued at approximately $1,379,000. Boeing comprises about 0.7% of Foresight Global Investors Inc.’s portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Axxcess Wealth Management LLC increased its stake in shares of Boeing by 14.2% in the 2nd quarter. Axxcess Wealth Management LLC now owns 15,846 shares of the aircraft producer’s stock valued at $2,884,000 after buying an additional 1,970 shares during the period. Old West Investment Management LLC bought a new position in Boeing in the second quarter valued at about $235,000. GDS Wealth Management bought a new stake in Boeing during the 2nd quarter worth about $219,000. Pekin Hardy Strauss Inc. lifted its position in Boeing by 13.5% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 2,820 shares of the aircraft producer’s stock valued at $513,000 after purchasing an additional 335 shares during the period. Finally, Wulff Hansen & CO. lifted its position in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna reissued a “positive” rating and set a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price target on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $225.00 price objective on shares of Boeing in a research note on Tuesday, June 25th. Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, UBS Group decreased their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Boeing Price Performance

Shares of Boeing stock opened at $155.54 on Tuesday. The firm has a market cap of $95.48 billion, a price-to-earnings ratio of -43.81 and a beta of 1.57. The Boeing Company has a one year low of $154.02 and a one year high of $267.54. The stock’s 50-day moving average is $173.49 and its 200-day moving average is $178.70.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the prior year, the business posted ($0.82) earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts expect that The Boeing Company will post -4.26 EPS for the current year.

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.