Modern Wealth Management LLC Buys Shares of 30,722 The Boeing Company (NYSE:BA)

Modern Wealth Management LLC purchased a new position in The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,722 shares of the aircraft producer’s stock, valued at approximately $5,547,000.

Several other large investors also recently made changes to their positions in the stock. Sierra Ocean LLC bought a new position in Boeing in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Boeing during the fourth quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in Boeing during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in Boeing in the 4th quarter valued at $28,000. Finally, HighMark Wealth Management LLC boosted its holdings in Boeing by 121.6% in the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after purchasing an additional 90 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of BA opened at $180.90 on Tuesday. The stock has a fifty day moving average price of $173.19 and a two-hundred day moving average price of $163.72. The company has a market cap of $135.69 billion, a price-to-earnings ratio of -9.87 and a beta of 1.53. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $196.95.

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

Insider Activity at Boeing

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the stock in a transaction on 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 directly owns 19,213 shares in the company, valued at approximately $3,471,596.97. This trade represents a 14.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on BA. StockNews.com raised shares of Boeing to a “sell” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. boosted their price target on Boeing from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research report on Wednesday, January 29th. Susquehanna boosted their price objective on Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Melius raised Boeing from a “hold” rating to a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.68.

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.