Monetta Financial Services Inc. Takes Position in The Boeing Company (NYSE:BA)

Monetta Financial Services Inc. acquired a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,100 shares of the aircraft producer’s stock, valued at approximately $1,434,000. Boeing comprises 1.2% of Monetta Financial Services Inc.’s holdings, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its holdings 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 valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Boeing by 2.8% in the third quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Boeing by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 5,030,899 shares of the aircraft producer’s stock valued at $890,469,000 after purchasing an additional 164,042 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Boeing by 30.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,178,444 shares of the aircraft producer’s stock valued at $739,585,000 after purchasing an additional 981,796 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Boeing by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,921,417 shares of the aircraft producer’s stock valued at $694,091,000 after purchasing an additional 581,987 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

BA stock opened at $172.82 on Friday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $196.95. The business has a 50-day moving average price of $172.86 and a 200 day moving average price of $163.54. The company has a market capitalization of $129.63 billion, a P/E ratio of -9.43 and a beta of 1.53.

Boeing (NYSE:BA) last posted its earnings results 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 quarter last year, the firm earned ($0.47) EPS. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares of the company’s stock, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $210.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, January 29th. Susquehanna lifted their price objective on shares of Boeing from $200.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Boeing from $103.00 to $113.00 and gave the stock an “underweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $195.68.

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.