Magnolia Capital Advisors LLC Makes New Investment in The Boeing Company (NYSE:BA)

Magnolia Capital Advisors LLC purchased a new position in shares of The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,723 shares of the aircraft producer’s stock, valued at approximately $710,000.

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

Boeing Trading Down 2.9 %

Shares of NYSE BA traded down $4.84 during midday trading on Wednesday, hitting $164.34. The company’s stock had a trading volume of 20,821,575 shares, compared to its average volume of 9,753,916. The business’s 50 day moving average is $188.03 and its two-hundred day moving average is $206.89. The Boeing Company has a 12-month low of $162.74 and a 12-month high of $267.54. The firm has a market cap of $100.27 billion, a P/E ratio of -44.66, a price-to-earnings-growth ratio of 135.00 and a beta of 1.52.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The firm had revenue of $22.02 billion for the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.75) earnings per share. On average, analysts predict that The Boeing Company will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BA. TD Cowen dropped their price target on Boeing from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 25th. UBS Group decreased their price objective on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price target on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Melius reiterated a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Sanford C. Bernstein cut their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Boeing currently has an average rating of “Moderate Buy” and an average price target of $226.71.

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.