PCG Asset Management LLC Makes New $342,000 Investment in The Boeing Company (NYSE:BA)

PCG Asset Management LLC purchased a new stake in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,933 shares of the aircraft producer’s stock, valued at approximately $342,000.

Other large investors also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its position in shares of Boeing by 54.2% in the fourth quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Boeing by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after purchasing an additional 38,300 shares during the period. Carnegie Investment Counsel boosted its holdings in shares of Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after purchasing an additional 2,943 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock valued at $101,296,000 after buying an additional 38,332 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 0.6 %

Boeing stock opened at $174.84 on Friday. The Boeing Company has a 52 week low of $137.03 and a 52 week high of $206.62. The stock has a market cap of $131.14 billion, a P/E ratio of -9.54 and a beta of 1.52. The stock has a 50 day moving average of $176.87 and a 200-day moving average of $164.71.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($4.30). During the same period last year, the business posted ($0.47) earnings per share. As a group, equities analysts predict that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 3,159 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the completion of the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BA shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, January 29th. Citigroup lifted their price objective on Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Wells Fargo & Company increased their target price on shares of Boeing from $85.00 to $103.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $190.00 to $210.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing has an average rating of “Moderate Buy” and an average target price of $195.16.

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.