EdgeRock Capital LLC Makes New $239,000 Investment in The Boeing Company (NYSE:BA)

EdgeRock Capital LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the 4th quarter, Holdings Channel.com reports. The fund purchased 918 shares of the aircraft producer’s stock, valued at approximately $239,000.

Several other large investors have also recently made changes to their positions in the business. CNB Bank lifted its position in Boeing by 106.5% during the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock valued at $25,000 after buying an additional 66 shares during the period. Evolution Advisers Inc. purchased a new stake in shares of Boeing in the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new position in Boeing in the 4th quarter worth $28,000. Naples Money Management LLC purchased a new position in Boeing during the fourth quarter valued at $44,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in Boeing by 66.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 236 shares of the aircraft producer’s stock valued at $45,000 after purchasing an additional 94 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BA. Citigroup lowered their price objective on Boeing from $252.00 to $224.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Bank of America reduced their price objective on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. TD Cowen lowered their target price on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Argus cut Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, The Goldman Sachs Group decreased their price target on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $222.41.

Boeing Stock Performance

NYSE:BA traded down $1.64 during trading hours on Tuesday, reaching $176.71. The company’s stock had a trading volume of 5,070,139 shares, compared to its average volume of 9,605,755. The company has a market capitalization of $108.48 billion, a P/E ratio of -49.78 and a beta of 1.54. The Boeing Company has a 12 month low of $159.70 and a 12 month high of $267.54. The stock has a 50 day moving average price of $182.80 and a two-hundred day moving average price of $206.14.

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.