Coastal Investment Advisors Inc. Grows Stock Holdings in The Boeing Company (NYSE:BA)

Coastal Investment Advisors Inc. increased its stake in shares of The Boeing Company (NYSE:BAGet Rating) by 23.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,129 shares of the aircraft producer’s stock after acquiring an additional 1,739 shares during the period. Coastal Investment Advisors Inc.’s holdings in Boeing were worth $1,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in Boeing by 165.0% in the 4th quarter. Bank of Montreal Can now owns 4,377,572 shares of the aircraft producer’s stock valued at $1,015,817,000 after purchasing an additional 2,725,602 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Boeing by 19.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 13,367,929 shares of the aircraft producer’s stock valued at $2,691,231,000 after purchasing an additional 2,210,908 shares in the last quarter. Clear Street LLC purchased a new stake in Boeing in the 4th quarter valued at approximately $199,306,000. Nuveen Asset Management LLC boosted its holdings in Boeing by 17.9% in the 4th quarter. Nuveen Asset Management LLC now owns 3,636,168 shares of the aircraft producer’s stock valued at $732,033,000 after purchasing an additional 552,493 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Boeing by 4,303.9% in the 4th quarter. American Century Companies Inc. now owns 359,311 shares of the aircraft producer’s stock valued at $72,336,000 after purchasing an additional 351,152 shares in the last quarter. 53.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Boeing stock opened at $137.16 on Thursday. The company has a fifty day moving average price of $142.76 and a 200 day moving average price of $179.63. The Boeing Company has a twelve month low of $113.02 and a twelve month high of $252.30. The stock has a market cap of $81.15 billion, a price-to-earnings ratio of -16.59 and a beta of 1.48.

Boeing (NYSE:BAGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The aircraft producer reported ($2.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($2.49). The company had revenue of $13.99 billion for the quarter, compared to analysts’ expectations of $15.90 billion. During the same period last year, the business posted ($1.53) earnings per share. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts predict that The Boeing Company will post -0.81 earnings per share for the current year.

BA has been the subject of a number of research reports. Benchmark reduced their price target on shares of Boeing from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, April 22nd. Susquehanna Bancshares reduced their price target on shares of Boeing from $193.00 to $192.00 and set a “positive” rating for the company in a research report on Friday, May 20th. JPMorgan Chase & Co. set a $190.00 price target on shares of Boeing in a research report on Tuesday, May 24th. Bank of America reduced their price target on shares of Boeing from $180.00 to $150.00 in a research report on Tuesday, May 17th. Finally, Morgan Stanley cut their price objective on Boeing from $288.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $225.83.

Boeing Profile (Get Rating)

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

See Also

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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