Silicon Valley Capital Partners Takes $149,000 Position in The Boeing Company (NYSE:BA)

Silicon Valley Capital Partners acquired a new stake in shares of The Boeing Company (NYSE:BA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 978 shares of the aircraft producer’s stock, valued at approximately $149,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BA. Hobbs Group Advisors LLC bought a new position in shares of Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. lifted its stake in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the second quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Boeing in the second quarter valued at $39,000. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.5 %

BA stock opened at $153.88 on Monday. The firm has a market cap of $95.13 billion, a PE ratio of -12.03 and a beta of 1.57. The Boeing Company has a 1 year low of $146.02 and a 1 year high of $267.54. The company has a fifty day simple moving average of $157.46 and a 200 day simple moving average of $171.01.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business posted ($3.26) EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that The Boeing Company will post -16.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BA has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and issued a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Hold” and a consensus price target of $190.37.

About Boeing

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.