Wallace Advisory Group LLC Purchases 1,371 Shares of The Boeing Company (NYSE:BA)

Wallace Advisory Group LLC lifted its position in The Boeing Company (NYSE:BA) by 105.3% in the 4th quarter, Holdings Channel reports. The fund owned 2,673 shares of the aircraft producer’s stock after acquiring an additional 1,371 shares during the quarter. Wallace Advisory Group LLC’s holdings in Boeing were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. Van ECK Associates Corp increased its position in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of 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 purchasing an additional 1,055,472 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BA. Susquehanna decreased their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.21.

Boeing Price Performance

Shares of BA stock opened at $170.56 on Tuesday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $217.59. The stock’s 50 day simple moving average is $161.70 and its two-hundred day simple moving average is $165.07. The company has a market cap of $105.44 billion, a PE ratio of -13.22 and a beta of 1.52.

Boeing (NYSE:BA) last released its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted ($3.26) earnings per share. Equities research analysts expect that The Boeing Company will post -16.18 EPS 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.