RiverPark Advisors LLC Buys Shares of 318 The Boeing Company (NYSE:BA)

RiverPark Advisors LLC bought a new stake in The Boeing Company (NYSE:BA) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 318 shares of the aircraft producer’s stock, valued at approximately $61,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Boeing by 35.5% during the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares in the last quarter. Jennison Associates LLC purchased a new position in Boeing in the 4th quarter worth about $960,397,000. Wellington Management Group LLP raised its holdings in Boeing by 563.9% during the 4th quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock worth $896,434,000 after buying an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Boeing by 23.7% during the 4th 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 buying an additional 1,884,850 shares during the period. Finally, Boston Partners lifted its stake in Boeing by 861.6% during the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after buying an additional 1,617,151 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Trading Down 1.4 %

Boeing stock traded down $2.59 during mid-day trading on Tuesday, hitting $183.25. 3,945,476 shares of the company’s stock were exchanged, compared to its average volume of 8,416,196. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The stock has a 50 day moving average of $180.80 and a two-hundred day moving average of $194.30. The stock has a market cap of $112.49 billion, a P/E ratio of -51.62 and a beta of 1.56.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The company had revenue of $16.57 billion for the quarter, compared to analyst estimates of $17.69 billion. As a group, research analysts predict that The Boeing Company will post -1.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BA shares. The Goldman Sachs Group dropped their target price on shares of Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Robert W. Baird reduced their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. JPMorgan Chase & Co. reduced their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Argus downgraded Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Citigroup reduced their price objective on Boeing from $252.00 to $224.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing 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.