Hobbs Group Advisors LLC Invests $34,000 in The Boeing Company (NYSE:BA)

Hobbs Group Advisors LLC bought a new position in The Boeing Company (NYSE:BA) in the 2nd quarter, HoldingsChannel reports. The fund bought 185 shares of the aircraft producer’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of Boeing by 21.3% during the fourth quarter. Federated Hermes Inc. now owns 134,687 shares of the aircraft producer’s stock worth $35,108,000 after acquiring an additional 23,630 shares in the last quarter. Beaumont Financial Advisors LLC raised its holdings in Boeing by 5.4% during the fourth quarter. Beaumont Financial Advisors LLC now owns 1,713 shares of the aircraft producer’s stock valued at $447,000 after buying an additional 87 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Boeing by 1.7% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,077 shares of the aircraft producer’s stock valued at $802,000 after buying an additional 52 shares in the last quarter. abrdn plc raised its holdings in Boeing by 72.2% during the fourth quarter. abrdn plc now owns 230,402 shares of the aircraft producer’s stock valued at $60,057,000 after buying an additional 96,620 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Boeing by 5.1% during the fourth quarter. Signaturefd LLC now owns 10,766 shares of the aircraft producer’s stock valued at $2,806,000 after buying an additional 520 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a report on Tuesday, June 25th. Wells Fargo & Company cut their target price on Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Baird R W upgraded Boeing to a “strong-buy” rating in a research note on Monday, June 3rd. Sanford C. Bernstein dropped their price objective on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Susquehanna reiterated a “positive” rating and issued a $230.00 price objective on shares of Boeing in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boeing currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.18.

Boeing Stock Down 0.1 %

BA stock traded down $0.20 during trading on Wednesday, hitting $171.90. The company had a trading volume of 1,762,875 shares, compared to its average volume of 8,006,961. The firm has a 50-day moving average price of $178.86 and a 200-day moving average price of $183.87. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The stock has a market cap of $105.53 billion, a price-to-earnings ratio of -48.48 and a beta of 1.56.

Boeing (NYSE:BA) last posted its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the business earned ($0.82) EPS. Boeing’s revenue was down 14.6% compared to the same quarter last year. Equities analysts expect that The Boeing Company will post -2.38 EPS for the current year.

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.