Magnus Financial Group LLC Grows Position in The Boeing Company (NYSE:BA)

Magnus Financial Group LLC grew its position in shares of The Boeing Company (NYSE:BA) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,200 shares of the aircraft producer’s stock after purchasing an additional 466 shares during the quarter. Magnus Financial Group LLC’s holdings in Boeing were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in Boeing during the fourth quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new stake in shares of Boeing during the third quarter valued at approximately $30,000. Albion Financial Group UT lifted its holdings in Boeing by 116.1% during the fourth quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock worth $52,000 after acquiring an additional 159 shares during the period. Finally, Planning Capital Management Corp boosted its position in Boeing by 741.0% in the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BA shares. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Robert W. Baird decreased their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Morgan Stanley lowered their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. 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 company. According to data from MarketBeat.com, Boeing has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Stock Up 0.0 %

Shares of Boeing stock opened at $175.58 on Wednesday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $217.59. The company has a market capitalization of $108.55 billion, a PE ratio of -13.59 and a beta of 1.52. The stock’s fifty day moving average is $164.20 and its two-hundred day moving average is $164.46.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business posted ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -16.46 earnings per share 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.