Platform Technology Partners Boosts Position in The Boeing Company (NYSE:BA)

Platform Technology Partners raised its stake in shares of The Boeing Company (NYSE:BA – Get Rating) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,071 shares of the aircraft producer’s stock after buying an additional 166 shares during the quarter. Platform Technology Partners’ holdings in Boeing were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BA. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Boeing by 88.7% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 266 shares of the aircraft producer’s stock worth $32,000 after purchasing an additional 125 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Boeing during the third quarter worth about $33,000. Selway Asset Management purchased a new position in shares of Boeing during the third quarter worth about $36,000. Ten Capital Wealth Advisors LLC grew its holdings in shares of Boeing by 200.9% during the third quarter. Ten Capital Wealth Advisors LLC now owns 325 shares of the aircraft producer’s stock worth $39,000 after purchasing an additional 217 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of Boeing by 61.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 328 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.

Boeing Trading Down 1.1 %

BA stock traded down $2.14 during midday trading on Friday, hitting $201.05. The company had a trading volume of 9,858,936 shares, compared to its average volume of 6,524,440. The Boeing Company has a 52 week low of $113.02 and a 52 week high of $221.33. The stock’s 50 day moving average price is $209.05 and its 200 day moving average price is $177.92. The stock has a market cap of $120.46 billion, a price-to-earnings ratio of -24.25, a PEG ratio of 55.65 and a beta of 1.43.

Boeing (NYSE:BA – Get Rating) last announced its earnings results on Wednesday, January 25th. The aircraft producer reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.80). The company had revenue of $19.98 billion during the quarter, compared to the consensus estimate of $20.10 billion. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($7.69) EPS. Analysts predict that The Boeing Company will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on BA. Northcoast Research began coverage on Boeing in a report on Thursday. They set a “neutral” rating for the company. Morgan Stanley lowered Boeing from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $213.00 to $220.00 in a report on Tuesday, January 10th. Credit Suisse Group set a $200.00 target price on Boeing in a research note on Thursday, January 26th. Wells Fargo & Company upped their target price on Boeing from $218.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Finally, JPMorgan Chase & Co. set a $225.00 target price on Boeing in a research note on Friday, February 24th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.13.

Boeing Company Profile

(Get Rating)

The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.