Golden State Wealth Management LLC Makes New $672,000 Investment in The Boeing Company (NYSE:BA)

Golden State Wealth Management LLC bought a new stake in shares of The Boeing Company (NYSE:BA) during the 4th quarter, HoldingsChannel reports. The firm bought 3,796 shares of the aircraft producer’s stock, valued at approximately $672,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. State Street Corp grew its position in Boeing by 2.3% in the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after buying an additional 636,594 shares in the last quarter. Geode Capital Management LLC boosted its stake in Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC increased its position in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Boeing by 6.0% in the third quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Boeing by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock worth $486,018,000 after acquiring an additional 48,637 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BA. Susquehanna upped their price target on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Robert W. Baird cut their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen decreased their price target on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.00.

Boeing Stock Performance

NYSE:BA opened at $181.51 on Friday. The company has a market capitalization of $112.21 billion, a P/E ratio of -9.91 and a beta of 1.52. The stock’s 50 day moving average price is $171.70 and its 200 day moving average price is $164.27. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $213.10.

Boeing (NYSE:BA) last released its quarterly 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 quarter last year, the company posted ($0.47) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -2.12 earnings per share for the current fiscal year.

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.