Financial Gravity Asset Management Inc. Has $1.72 Million Position in The Boeing Company (NYSE:BA)

Financial Gravity Asset Management Inc. lifted its position in shares of The Boeing Company (NYSE:BA) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,477 shares of the aircraft producer’s stock after purchasing an additional 1,390 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Boeing were worth $1,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BA. Kerusso Capital Management LLC bought a new position in Boeing during the second quarter worth about $1,870,000. Chris Bulman Inc bought a new position in shares of Boeing during the 2nd quarter worth approximately $137,000. Strategic Financial Concepts LLC acquired a new position in shares of Boeing during the 2nd quarter worth approximately $41,000. Parcion Private Wealth LLC raised its stake in Boeing by 1.7% in the 2nd quarter. Parcion Private Wealth LLC now owns 10,748 shares of the aircraft producer’s stock valued at $1,956,000 after acquiring an additional 183 shares during the period. Finally, Cobblestone Capital Advisors LLC NY lifted its holdings in Boeing by 10.1% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 6,852 shares of the aircraft producer’s stock valued at $1,247,000 after purchasing an additional 628 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Price Performance

Shares of NYSE BA opened at $157.62 on Friday. The company has a 50 day simple moving average of $176.53 and a 200 day simple moving average of $180.65. The firm has a market cap of $96.76 billion, a PE ratio of -44.40 and a beta of 1.57. The Boeing Company has a 1 year low of $156.70 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period last year, the business earned ($0.82) EPS. Boeing’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on BA. UBS Group decreased their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Bank of America increased their price target on shares of Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, June 13th. Baird R W upgraded Boeing to a “strong-buy” rating in a report on Monday, June 3rd. Sanford C. Bernstein lowered their target price 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 restated a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.29.

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.