Magnus Financial Group LLC Raises Position in The Boeing Company (NYSE:BA)

Magnus Financial Group LLC grew its holdings in shares of The Boeing Company (NYSE:BA) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,540 shares of the aircraft producer’s stock after purchasing an additional 214 shares during the quarter. Magnus Financial Group LLC’s holdings in Boeing were worth $1,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Capital Research Global Investors increased its position in Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after purchasing an additional 4,425,964 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Boeing by 23.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Northern Trust Corp grew its stake in shares of Boeing by 1.1% in the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after buying an additional 52,081 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Trading Down 8.4 %

NYSE:BA traded down $14.53 during midday trading on Tuesday, reaching $159.21. The company had a trading volume of 8,136,877 shares, compared to its average volume of 7,854,012. The stock’s fifty day simple moving average is $178.02 and its 200-day simple moving average is $181.69. The Boeing Company has a 12-month low of $158.84 and a 12-month high of $267.54. The firm has a market capitalization of $97.74 billion, a price-to-earnings ratio of -45.94 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the firm earned ($0.82) EPS. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BA shares. Robert W. Baird lowered their price objective on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. Sanford C. Bernstein cut their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Bank of America boosted their price objective on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Stifel Nicolaus increased their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group reduced their price target on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.