The Boeing Company (NYSE:BA) Shares Bought by Sterneck Capital Management LLC

Sterneck Capital Management LLC grew its stake in The Boeing Company (NYSE:BA) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,992 shares of the aircraft producer’s stock after purchasing an additional 66 shares during the quarter. Sterneck Capital Management LLC’s holdings in Boeing were worth $530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Boeing during the third quarter worth $28,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the 2nd quarter valued at about $33,000. Cedar Wealth Management LLC acquired a new stake in Boeing in the 3rd quarter valued at about $30,000. Meeder Asset Management Inc. lifted its stake in Boeing by 325.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock worth $55,000 after purchasing an additional 231 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $172.63 on Wednesday. The stock has a market capitalization of $106.72 billion, a PE ratio of -13.38 and a beta of 1.52. The company’s 50-day simple moving average is $160.22 and its 200-day simple moving average is $165.27. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $233.85.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the company earned ($3.26) earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that The Boeing Company will post -16.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on BA. Sanford C. Bernstein cut Boeing from an “outperform” rating to a “market perform” rating and cut their price target for the company from $195.00 to $169.00 in a report on Wednesday, October 30th. Citigroup cut their target price on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird cut their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

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.