Connective Portfolio Management LLC Purchases Shares of 6,000 The Boeing Company (NYSE:BA)

Connective Portfolio Management LLC bought a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the aircraft producer’s stock, valued at approximately $1,062,000. Boeing makes up about 1.6% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC acquired a new stake in Boeing in the 3rd quarter valued at about $28,000. Cedar Wealth Management LLC acquired a new position in Boeing in the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. acquired a new position in Boeing during the second quarter valued at approximately $33,000. Planning Capital Management Corp boosted its position in Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock worth $50,000 after purchasing an additional 289 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Boeing in the third quarter worth about $58,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 0.5 %

Shares of BA opened at $166.25 on Thursday. The stock has a market capitalization of $102.78 billion, a P/E ratio of -12.89 and a beta of 1.52. The Boeing Company has a 12 month low of $137.03 and a 12 month high of $217.59. The firm’s fifty day simple moving average is $162.02 and its two-hundred day simple moving average is $164.97.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts predict that The Boeing Company will post -16.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on BA shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, October 30th. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $195.00 to $169.00 in a research report on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Benchmark reaffirmed a “buy” rating and set a $250.00 target price on shares of Boeing in a report on Thursday, October 24th. Finally, Robert W. Baird cut their target price on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.21.

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.