Edgestream Partners L.P. Acquires New Stake in The Boeing Company (NYSE:BA)

Edgestream Partners L.P. acquired a new stake in shares of The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,086 shares of the aircraft producer’s stock, valued at approximately $6,918,000.

A number of other large investors have also bought and sold shares of the company. Sierra Ocean LLC bought a new stake in shares of Boeing in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in Boeing in the 4th quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in Boeing during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of Boeing during the fourth quarter worth $28,000. Finally, HighMark Wealth Management LLC lifted its position in shares of Boeing by 121.6% during the fourth quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Stock Down 2.8 %

Shares of BA stock opened at $158.52 on Friday. The firm has a market cap of $118.90 billion, a P/E ratio of -8.65 and a beta of 1.52. The business has a 50-day moving average price of $175.56 and a two-hundred day moving average price of $164.45. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $203.80.

Boeing (NYSE:BA) last released its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period in the prior year, the company posted ($0.47) earnings per share. As a group, research analysts expect that The Boeing Company will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, EVP Uma M. Amuluru sold 3,159 shares of Boeing stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $180.69, for a total value of $570,799.71. Following the transaction, the executive vice president now owns 19,213 shares in the company, valued at approximately $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BA shares. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their target price on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Boeing in a report on Wednesday, January 29th. UBS Group boosted their price objective on shares of Boeing from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boeing from $184.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and a consensus price target of $195.16.

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.