Modern Wealth Management LLC Buys Shares of 30,722 The Boeing Company (NYSE:BA)

Modern Wealth Management LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 30,722 shares of the aircraft producer’s stock, valued at approximately $5,547,000.

Other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Boeing by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 112,288 shares of the aircraft producer’s stock worth $17,072,000 after purchasing an additional 6,962 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Boeing by 17.5% in the third quarter. Penserra Capital Management LLC now owns 4,856 shares of the aircraft producer’s stock valued at $738,000 after buying an additional 724 shares during the period. Larson Financial Group LLC increased its position in shares of Boeing by 10.8% during the third quarter. Larson Financial Group LLC now owns 16,324 shares of the aircraft producer’s stock worth $2,482,000 after acquiring an additional 1,589 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Boeing by 5.7% during the third quarter. Daiwa Securities Group Inc. now owns 148,852 shares of the aircraft producer’s stock worth $22,631,000 after acquiring an additional 8,085 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after acquiring an additional 277,350 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 1.6 %

BA stock opened at $180.90 on Tuesday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The business’s 50 day simple moving average is $173.19 and its 200 day simple moving average is $163.72. The firm has a market capitalization of $135.69 billion, a PE ratio of -9.87 and a beta of 1.53.

Boeing (NYSE:BA) last released its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter in the previous year, the business posted ($0.47) EPS. As a group, sell-side analysts predict that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Boeing

In other news, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This represents a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BA. UBS Group increased their target price on Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Citigroup increased their price objective on Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Northcoast Research raised Boeing from a “sell” rating to a “neutral” rating in a research report on Thursday, December 12th. Melius raised Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price objective on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.68.

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.