Madison Park Capital Advisors LLC Purchases New Stake in The Boeing Company (NYSE:BA)

Madison Park Capital Advisors LLC purchased a new stake in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,169 shares of the aircraft producer’s stock, valued at approximately $305,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Boeing by 0.8% during the third quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock valued at $9,125,790,000 after purchasing an additional 356,496 shares during the period. Morgan Stanley raised its stake in shares of Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after purchasing an additional 91,801 shares during the period. Northern Trust Corp raised its stake in shares of Boeing by 3.2% during the third quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock valued at $949,042,000 after purchasing an additional 153,168 shares during the period. Jennison Associates LLC purchased a new stake in shares of Boeing during the fourth quarter valued at approximately $960,397,000. Finally, Invesco Ltd. raised its stake in shares of Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after purchasing an additional 759,267 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA traded down $1.31 during midday trading on Tuesday, hitting $169.17. 7,584,261 shares of the stock traded hands, compared to its average volume of 9,611,969. The Boeing Company has a 1-year low of $167.53 and a 1-year high of $267.54. The firm has a market capitalization of $103.22 billion, a PE ratio of -45.97, a price-to-earnings-growth ratio of 134.48 and a beta of 1.52. The business’s 50 day moving average price is $188.81 and its two-hundred day moving average price is $207.19.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same period last year, the firm posted ($1.75) EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Boeing Company will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BA shares. Barclays decreased their price target on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday. Bank of America decreased their price target on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Citigroup decreased their price target on shares of Boeing from $263.00 to $252.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. Melius reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Sanford C. Bernstein decreased their price target on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.