Cvfg LLC Makes New Investment in The Boeing Company (NYSE:BA)

Cvfg LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,636 shares of the aircraft producer’s stock, valued at approximately $290,000.

Several other hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the third quarter valued at about $28,000. Cedar Wealth Management LLC purchased a new stake in Boeing in the third quarter valued at approximately $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing in the 2nd quarter worth approximately $33,000. Planning Capital Management Corp raised its position in Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after buying an additional 289 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Boeing during the 3rd quarter valued at approximately $58,000. 64.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Jefferies Financial Group cut their price target on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird decreased their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Citigroup reduced their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.21.

Boeing Trading Up 1.6 %

Shares of Boeing stock opened at $168.91 on Friday. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59. The firm has a market capitalization of $104.42 billion, a PE ratio of -13.09 and a beta of 1.52. The firm’s 50-day moving average price is $162.40 and its 200 day moving average price is $164.98.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (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. During the same quarter in the previous year, the company earned ($3.26) earnings per share. Boeing’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts predict that The Boeing Company will post -16.43 EPS for the current fiscal year.

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.