Grant GrossMendelsohn LLC Invests $204,000 in The Boeing Company (NYSE:BA)

Grant GrossMendelsohn LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,151 shares of the aircraft producer’s stock, valued at approximately $204,000.

Several other hedge funds have also modified their holdings of the stock. Saxon Interests Inc. acquired a new stake in Boeing during the 4th quarter worth about $252,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Boeing by 8.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 9,122 shares of the aircraft producer’s stock valued at $1,615,000 after acquiring an additional 700 shares during the period. Everpar Advisors LLC lifted its position in shares of Boeing by 15.2% in the 4th quarter. Everpar Advisors LLC now owns 4,573 shares of the aircraft producer’s stock valued at $809,000 after acquiring an additional 602 shares in the last quarter. KMG Fiduciary Partners LLC boosted its stake in Boeing by 5.9% in the 4th quarter. KMG Fiduciary Partners LLC now owns 3,529 shares of the aircraft producer’s stock worth $625,000 after purchasing an additional 196 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Boeing during the 4th quarter worth approximately $234,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Up 1.3 %

Shares of Boeing stock opened at $171.14 on Friday. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $217.59. The stock has a 50 day moving average price of $162.76 and a two-hundred day moving average price of $165.00. The stock has a market capitalization of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52.

Boeing (NYSE:BA) last posted 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 for the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.26) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -16.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

BA has been the subject of a number of research analyst reports. Citigroup reduced their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on Boeing from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their target price on Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Finally, Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Moderate Buy” and a consensus price target of $192.21.

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.