Palacios Wealth Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Palacios Wealth Management LLC purchased a new position in The Boeing Company (NYSE:BA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,408 shares of the aircraft producer’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Exchange Traded Concepts LLC grew its stake in Boeing by 691.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the aircraft producer’s stock worth $262,000 after buying an additional 1,507 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Boeing by 11.7% in the 3rd quarter. NBC Securities Inc. now owns 5,636 shares of the aircraft producer’s stock valued at $856,000 after purchasing an additional 592 shares in the last quarter. ERn Financial LLC boosted its stake in shares of Boeing by 17.0% in the 3rd quarter. ERn Financial LLC now owns 1,374 shares of the aircraft producer’s stock valued at $209,000 after purchasing an additional 200 shares in the last quarter. Opal Wealth Advisors LLC boosted its stake in shares of Boeing by 6.8% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,436 shares of the aircraft producer’s stock valued at $218,000 after purchasing an additional 91 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Boeing by 50.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,176 shares of the aircraft producer’s stock valued at $3,372,000 after purchasing an additional 7,471 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Price Performance

Shares of Boeing stock opened at $185.75 on Friday. The company has a 50-day moving average of $173.77 and a 200 day moving average of $164.10. The firm has a market cap of $139.33 billion, a price-to-earnings ratio of -10.14 and a beta of 1.52. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $208.10.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the prior year, the company posted ($0.47) EPS. On average, equities analysts anticipate that The Boeing Company will post -2.3 EPS for the current year.

Wall Street Analyst Weigh In

BA has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Boeing from $200.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein cut shares of Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $190.00 to $210.00 in a research note on Monday, January 6th. Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley cut their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.16.

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.