Steele Capital Management Inc. Invests $1.53 Million in The Boeing Company (NYSE:BA)

Steele Capital Management Inc. purchased a new stake in The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,884 shares of the aircraft producer’s stock, valued at approximately $1,534,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BA. Vanguard Group Inc. boosted its stake in Boeing by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after acquiring an additional 356,496 shares during the last quarter. Morgan Stanley grew its stake in Boeing by 1.1% in the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after acquiring an additional 91,801 shares during the period. Northern Trust Corp lifted its holdings in shares of Boeing by 3.2% during the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock valued at $949,042,000 after purchasing an additional 153,168 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Boeing in the 4th quarter valued at approximately $960,397,000. Finally, Invesco Ltd. increased its stake in Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after purchasing an additional 759,267 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. The Goldman Sachs Group lowered their target price on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a report on Monday, March 25th. Melius Research reissued a “hold” rating on shares of Boeing in a research note on Monday, April 1st. Barclays reduced their price objective on Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Finally, Morgan Stanley cut their target price on Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Boeing presently has an average rating of “Moderate Buy” and a consensus target price of $222.41.

Boeing Stock Up 3.8 %

Shares of Boeing stock traded up $6.31 during 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 business’s 50-day moving average price is $186.53 and its 200-day moving average price is $206.63. The Boeing Company has a 52 week low of $159.70 and a 52 week high of $267.54. The firm has a market cap of $106.53 billion, a PE ratio of -48.47 and a beta of 1.52.

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

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.