Waycross Partners LLC Buys 113,623 Shares of The Boeing Company (NYSE:BA)

Waycross Partners LLC lifted its stake in The Boeing Company (NYSE:BA) by 898.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,269 shares of the aircraft producer’s stock after acquiring an additional 113,623 shares during the quarter. Boeing accounts for about 2.9% of Waycross Partners LLC’s investment portfolio, making the stock its 11th largest holding. Waycross Partners LLC’s holdings in Boeing were worth $22,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BA. Van ECK Associates Corp increased its position in shares of 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 purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC grew its position in Boeing by 289.8% during the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after buying an additional 1,251,165 shares during the period. Franklin Resources Inc. increased its holdings in Boeing by 1,296.3% during the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock valued at $169,386,000 after buying an additional 1,055,472 shares during the last quarter. State Street Corp raised its position in 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 acquiring an additional 636,594 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after acquiring an additional 602,143 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays upgraded Boeing from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $210.00 in a research report on Monday, January 6th. Citigroup raised their target price on shares of Boeing from $207.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Susquehanna increased their price target on Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and a consensus price target of $195.16.

Boeing Stock Performance

NYSE BA opened at $184.52 on Tuesday. The stock has a 50 day moving average price of $174.96 and a 200-day moving average price of $163.90. The Boeing Company has a one year low of $137.03 and a one year high of $208.10. The company has a market capitalization of $138.40 billion, a P/E ratio of -10.07 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the firm earned ($0.47) EPS. As a group, equities analysts predict that The Boeing Company will post -2.3 EPS for the current fiscal year.

Boeing 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.