Fernwood Investment Management LLC Takes Position in The Boeing Company (NYSE:BA)

Fernwood Investment Management LLC acquired a new stake in The Boeing Company (NYSE:BA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,152 shares of the aircraft producer’s stock, valued at approximately $299,000.

Several other large investors have also modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Boeing during the fourth quarter worth $960,397,000. Lazard Asset Management LLC lifted its holdings in shares of Boeing by 8,961.2% during the third quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock worth $222,628,000 after purchasing an additional 1,148,643 shares during the period. Barclays PLC lifted its holdings in shares of Boeing by 54.5% during the third quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock worth $450,783,000 after purchasing an additional 829,321 shares during the period. Invesco Ltd. raised its position in Boeing by 30.1% in the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after acquiring an additional 759,267 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Boeing by 726.7% in the fourth quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after acquiring an additional 549,318 shares in the last quarter. 64.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BA shares. The Goldman Sachs Group cut their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Melius restated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Edward Jones cut Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a research report on Tuesday, March 26th. Finally, Morgan Stanley dropped their price target on Boeing from $235.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.41.

Boeing Price Performance

NYSE:BA traded up $6.31 during mid-day trading on Monday, reaching $173.53. The company’s stock had a trading volume of 7,798,411 shares, compared to its average volume of 9,734,126. The stock has a market cap of $106.53 billion, a P/E ratio of -48.47 and a beta of 1.52. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The company’s fifty day simple moving average is $186.53 and its two-hundred day simple moving average is $206.63.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion during the quarter, compared to analyst estimates of $21.14 billion. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) earnings per share. Sell-side analysts expect that The Boeing Company will post -0.3 EPS for the current fiscal 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.