Jade Capital Advisors LLC Invests $4.71 Million in The Boeing Company (NYSE:BA)

Jade Capital Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,000 shares of the aircraft producer’s stock, valued at approximately $4,713,000. Boeing comprises approximately 3.0% of Jade Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazari Capital Management Inc. boosted its stake in shares of Boeing by 55.7% in the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after purchasing an additional 8,309 shares in the last quarter. Czech National Bank increased its stake in shares of Boeing by 8.4% in the 3rd quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after acquiring an additional 9,281 shares in the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in Boeing during the 3rd quarter valued at about $11,237,000. Sanctuary Advisors LLC bought a new stake in Boeing during the 2nd quarter valued at about $21,405,000. Finally, Williams Financial LLC bought a new stake in shares of Boeing in the second quarter worth approximately $1,637,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BA has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen reduced their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley reduced their price target on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.79.

Boeing Stock Performance

BA stock opened at $159.82 on Tuesday. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The firm has a market cap of $98.11 billion, a price-to-earnings ratio of -45.02 and a beta of 1.57. The firm has a 50-day simple moving average of $161.01 and a two-hundred day simple moving average of $172.28.

Boeing (NYSE:BA) last issued its quarterly earnings results 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 the consensus estimate of $17.35 billion. During the same quarter in the previous year, the business posted ($0.82) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, equities analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal 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.