Beech Hill Advisors Inc. Has $2.45 Million Position in The Boeing Company (NYSE:BA)

Beech Hill Advisors Inc. raised its holdings in The Boeing Company (NYSE:BA) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,855 shares of the aircraft producer’s stock after buying an additional 718 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Boeing were worth $2,452,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BA. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the third quarter worth $28,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Boeing in the 2nd quarter worth $33,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing in the third quarter valued at about $30,000. Fairscale Capital LLC bought a new position in shares of Boeing during the 2nd quarter worth approximately $59,000. Finally, Planning Capital Management Corp increased its holdings in Boeing by 741.0% in the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after acquiring an additional 289 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Up 0.7 %

Shares of BA stock traded up $1.18 during trading hours on Thursday, reaching $167.38. The company’s stock had a trading volume of 462,313 shares, compared to its average volume of 7,442,268. The Boeing Company has a one year low of $137.03 and a one year high of $217.59. The stock has a market capitalization of $103.47 billion, a P/E ratio of -12.98 and a beta of 1.52. The firm’s fifty day simple moving average is $162.02 and its 200 day simple moving average is $164.97.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post -16.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BA. Citigroup cut their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their target price on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, November 25th. UBS Group decreased their price target on shares of Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.