Lakeridge Wealth Management LLC Acquires New Shares in The Boeing Company (NYSE:BA)

Lakeridge Wealth Management LLC bought a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,158 shares of the aircraft producer’s stock, valued at approximately $205,000.

Other hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its holdings in Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after purchasing an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after buying an additional 38,300 shares during the last quarter. Carnegie Investment Counsel grew its holdings in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the period. Principal Financial Group Inc. increased its position in Boeing by 6.1% during the third quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Boeing by 9.9% in 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 acquiring an additional 602,143 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.5 %

Shares of BA stock opened at $184.52 on Friday. The stock has a market cap of $138.40 billion, a P/E ratio of -10.07 and a beta of 1.52. The company’s fifty day simple moving average is $174.96 and its two-hundred day simple moving average is $164.24. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $208.10.

Boeing (NYSE:BA) last announced its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same quarter in the prior year, the company earned ($0.47) earnings per share. On average, analysts anticipate that The Boeing Company will post -2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Susquehanna upped their target price on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Benchmark reiterated a “buy” rating and set a $250.00 price target on shares of Boeing in a research note on Thursday, October 24th. Wells Fargo & Company upped their price objective on Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Boeing in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $195.16.

Boeing Company 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.