Magnus Financial Group LLC Buys 194 Shares of The Boeing Company (NYSE:BA)

Magnus Financial Group LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 2.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,734 shares of the aircraft producer’s stock after acquiring an additional 194 shares during the period. Magnus Financial Group LLC’s holdings in Boeing were worth $1,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC bought a new position in Boeing during the second quarter valued at approximately $34,000. McClarren Financial Advisors Inc. grew its holdings in shares of Boeing by 451.4% during the 1st 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. purchased a new position in Boeing in the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing in the second quarter valued at approximately $39,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday. Jefferies Financial Group reduced their target price on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Citigroup dropped their price target on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $230.00 target price on shares of Boeing in a research report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Boeing Trading Up 2.3 %

Boeing stock traded up $3.46 during mid-day trading on Tuesday, hitting $152.45. The company had a trading volume of 11,225,210 shares, compared to its average volume of 8,077,598. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54. The stock’s 50 day moving average price is $162.05 and its two-hundred day moving average price is $173.41. The company has a market capitalization of $93.59 billion, a PE ratio of -42.85 and a beta of 1.57.

Boeing (NYSE:BA) last announced its quarterly earnings results 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 company had revenue of $16.87 billion for the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.82) EPS. Equities research analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

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.