Magnus Financial Group LLC Purchases 869 Shares of The Boeing Company (NYSE:BA)

Magnus Financial Group LLC raised its holdings in shares of The Boeing Company (NYSE:BA) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,803 shares of the aircraft producer’s stock after acquiring an additional 869 shares during the quarter. Magnus Financial Group LLC’s holdings in Boeing were worth $2,295,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC bought a new position in Boeing during the fourth quarter valued at $960,397,000. Lazard Asset Management LLC lifted its stake in shares of Boeing by 8,961.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after purchasing an additional 1,148,643 shares during the last quarter. Barclays PLC increased its position in shares of Boeing by 54.5% during the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after purchasing an additional 829,321 shares during the last quarter. Invesco Ltd. raised its holdings in Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after buying an additional 759,267 shares during the period. Finally, Cerity Partners LLC lifted its position in Boeing by 726.7% in the fourth quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after buying an additional 549,318 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

Boeing stock traded up $0.41 during mid-day trading on Friday, reaching $167.22. 7,208,103 shares of the company were exchanged, compared to its average volume of 7,379,195. The Boeing Company has a 12-month low of $159.70 and a 12-month high of $267.54. The business has a fifty day moving average of $186.53 and a 200 day moving average of $206.55. The firm has a market cap of $102.65 billion, a P/E ratio of -47.10, a PEG ratio of 140.43 and a beta of 1.52.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to the consensus estimate of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.75) EPS. Sell-side analysts predict that The Boeing Company will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BA. Stifel Nicolaus reduced their target price on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Benchmark reissued a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Tuesday, March 26th. Bank of America cut their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. The Goldman Sachs Group decreased their price target on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, StockNews.com downgraded Boeing from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and an average target price of $222.41.

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.