EdgeRock Capital LLC Invests $239,000 in The Boeing Company (NYSE:BA)

EdgeRock Capital LLC purchased a new stake in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 918 shares of the aircraft producer’s stock, valued at approximately $239,000.

Several other institutional investors have also added to or reduced their stakes in BA. Vanguard Group Inc. grew its position in Boeing by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares during the last quarter. Morgan Stanley raised its stake in shares of Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after purchasing an additional 91,801 shares during the last quarter. Northern Trust Corp increased its position 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 acquiring an additional 153,168 shares during the last quarter. Jennison Associates LLC bought a new position in Boeing during the fourth quarter valued at $960,397,000. Finally, Invesco Ltd. raised its position in shares of Boeing by 30.1% in the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after buying an additional 759,267 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on BA shares. TD Cowen decreased their price objective on Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Argus cut Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Morgan Stanley cut their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. UBS Group cut their target price on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Finally, Melius reissued a “hold” rating on shares of Boeing in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Boeing has an average rating of “Hold” and a consensus price target of $222.41.

Boeing Trading Down 0.9 %

NYSE BA traded down $1.64 on Tuesday, hitting $176.71. 5,070,139 shares of the stock traded hands, compared to its average volume of 9,605,755. The stock has a 50-day moving average of $182.80 and a 200 day moving average of $206.14. The company has a market capitalization of $108.48 billion, a P/E ratio of -49.78 and a beta of 1.54. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

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.