Ground Swell Capital LLC Invests $275,000 in The Boeing Company (NYSE:BA)

Ground Swell Capital LLC purchased a new position in shares of The Boeing Company (NYSE:BA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,807 shares of the aircraft producer’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Boeing by 15,039.0% in the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after buying an additional 960,993 shares in the last quarter. Finally, Newport Trust Company LLC grew its holdings in Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Susquehanna reduced their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Boeing from $225.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Benchmark reiterated a “buy” rating and set a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $190.42.

Boeing Price Performance

BA opened at $154.59 on Monday. The stock has a market capitalization of $95.57 billion, a PE ratio of -11.98 and a beta of 1.57. The Boeing Company has a 12-month low of $146.02 and a 12-month high of $267.54. The firm’s fifty day moving average price is $157.46 and its 200 day moving average price is $171.01.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned ($3.26) earnings per share. On average, equities research analysts forecast that The Boeing Company will post -16.15 earnings per share for the current fiscal year.

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.