Cedar Mountain Advisors LLC Grows Holdings in The Boeing Company (NYSE:BA)

Cedar Mountain Advisors LLC boosted its position in shares of The Boeing Company (NYSE:BA) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,818 shares of the aircraft producer’s stock after acquiring an additional 300 shares during the period. Cedar Mountain Advisors LLC’s holdings in Boeing were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in Boeing in the 4th quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing during the third quarter valued at approximately $28,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing in the third quarter worth $30,000. Planning Capital Management Corp grew its stake in Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after acquiring an additional 289 shares in the last quarter. Finally, Albion Financial Group UT increased its holdings in Boeing by 116.1% in the 4th quarter. Albion Financial Group UT now owns 296 shares of the aircraft producer’s stock valued at $52,000 after acquiring an additional 159 shares during the last quarter. 64.82% of the stock is currently owned by institutional investors.

Boeing Price Performance

Boeing stock opened at $175.95 on Friday. The stock has a market cap of $108.77 billion, a price-to-earnings ratio of -13.64 and a beta of 1.52. The firm has a 50-day moving average of $166.42 and a two-hundred day moving average of $164.56. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $214.63.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($3.26) EPS. Research analysts expect that The Boeing Company will post -16.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $210.00 in a report on Monday, January 6th. DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boeing from $184.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird dropped their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.11.

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.