Private Management Group Inc. Acquires Shares of 995 The Boeing Company (NYSE:BA)

Private Management Group Inc. acquired a new stake in The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 995 shares of the aircraft producer’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BA. GAMMA Investing LLC acquired a new position in shares of Boeing during the 4th quarter valued at about $670,000. Ellenbecker Investment Group acquired a new position in shares of Boeing during the 4th quarter valued at about $209,000. Parkside Financial Bank & Trust boosted its position in shares of Boeing by 24.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,683 shares of the aircraft producer’s stock valued at $960,000 after acquiring an additional 730 shares during the last quarter. Marks Group Wealth Management Inc acquired a new position in shares of Boeing during the 4th quarter valued at about $219,000. Finally, Roble Belko & Company Inc boosted its position in shares of Boeing by 155.3% during the 4th quarter. Roble Belko & Company Inc now owns 822 shares of the aircraft producer’s stock valued at $214,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 2.9 %

Shares of NYSE BA traded down $4.85 during mid-day trading on Wednesday, hitting $164.33. 20,675,666 shares of the company were exchanged, compared to its average volume of 9,727,737. The stock has a 50 day simple moving average of $188.81 and a 200-day simple moving average of $207.19. The Boeing Company has a 1-year low of $162.74 and a 1-year high of $267.54. The firm has a market cap of $100.26 billion, a price-to-earnings ratio of -45.36, a price-to-earnings-growth ratio of 135.00 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period in the prior year, the business earned ($1.75) earnings per share. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Citigroup lowered their price target on shares of Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Melius reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Royal Bank of Canada decreased their target price on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Finally, Sanford C. Bernstein cut their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Boeing has an average rating of “Moderate Buy” and an average price target of $226.71.

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.