Fountainhead AM LLC Takes Position in The Boeing Company (NYSE:BA)

Fountainhead AM LLC bought a new stake in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,085 shares of the aircraft producer’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CNB Bank lifted its holdings in Boeing by 106.5% in the 3rd quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Park Place Capital Corp lifted its holdings in Boeing by 185.1% in the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock valued at $40,000 after purchasing an additional 137 shares in the last quarter. Lowe Wealth Advisors LLC purchased a new position in Boeing in the 3rd quarter valued at $43,000. Naples Money Management LLC purchased a new position in Boeing in the 4th quarter valued at $44,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in Boeing by 66.2% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.8 %

NYSE BA traded down $1.31 during trading on Tuesday, hitting $169.17. The stock had a trading volume of 7,584,261 shares, compared to its average volume of 9,611,969. The company has a market capitalization of $103.22 billion, a PE ratio of -45.97, a PEG ratio of 134.48 and a beta of 1.52. The firm has a 50 day moving average price of $188.81 and a 200 day moving average price of $207.19. The Boeing Company has a twelve month low of $167.53 and a twelve month high of $267.54.

Boeing (NYSE:BA) last released its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.75) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Sanford C. Bernstein decreased their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Edward Jones lowered Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Citigroup reduced their price target on Boeing from $263.00 to $252.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Boeing has a consensus rating of “Moderate Buy” and an average price target of $226.71.

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.