Blue Zone Wealth Advisors LLC Boosts Stake in The Boeing Company (NYSE:BA)

Blue Zone Wealth Advisors LLC raised its position in The Boeing Company (NYSE:BA) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,564 shares of the aircraft producer’s stock after buying an additional 169 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Boeing were worth $3,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after acquiring an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after acquiring an additional 1,055,472 shares during the last quarter. State Street Corp grew its holdings in shares of Boeing by 2.3% during the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Boeing by 9.9% during the third quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BA shares. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Citigroup upped their target price on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a report on Monday, February 10th. Susquehanna upped their target price on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price objective on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $195.16.

Boeing Price Performance

BA opened at $184.52 on Friday. The company has a market capitalization of $138.40 billion, a price-to-earnings ratio of -10.07 and a beta of 1.52. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The business has a 50 day moving average price of $174.96 and a two-hundred day moving average price of $164.24.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) earnings per share. Equities analysts expect that The Boeing Company will post -2.3 EPS for the current fiscal year.

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.