Coastal Bridge Advisors LLC Has $1.34 Million Position in The Boeing Company (NYSE:BA)

Coastal Bridge Advisors LLC lifted its position in The Boeing Company (NYSE:BA) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,546 shares of the aircraft producer’s stock after purchasing an additional 300 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Boeing were worth $1,336,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc boosted its holdings in shares of Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares in the last quarter. Carnegie Investment Counsel increased its stake in shares of Boeing by 175.6% in the fourth quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock valued at $818,000 after buying an additional 2,943 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Boeing by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the last quarter. Amundi increased its position in Boeing by 473.6% in the 4th quarter. Amundi now owns 1,565,337 shares of the aircraft producer’s stock valued at $268,862,000 after acquiring an additional 1,292,417 shares in the last quarter. Finally, EWG Elevate Inc. bought a new position in shares of Boeing in the fourth quarter worth about $848,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

Insider Transactions at Boeing

In other Boeing news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now owns 42,513 shares of the company’s stock, valued at approximately $7,950,356.13. The trade was a 8.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Uma M. Amuluru sold 3,159 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $180.69, for a total transaction of $570,799.71. Following the sale, the executive vice president now owns 19,213 shares in the company, valued at $3,471,596.97. The trade was a 14.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Boeing Price Performance

Shares of NYSE:BA opened at $185.75 on Thursday. The company’s 50-day moving average price is $165.87 and its two-hundred day moving average price is $166.38. The Boeing Company has a one year low of $128.88 and a one year high of $196.95. The stock has a market capitalization of $140.05 billion, a PE ratio of -10.14 and a beta of 1.41.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.57 billion. During the same period in the prior year, the business posted ($1.13) earnings per share. Boeing’s revenue was up 17.7% compared to the same quarter last year. On average, analysts anticipate that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup raised their price target on shares of Boeing from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Boeing from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Cowen reaffirmed a “buy” rating on shares of Boeing in a research note on Wednesday. TD Securities reiterated a “buy” rating and set a $180.00 target price on shares of Boeing in a research report on Thursday, April 24th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $140.00 price objective (up from $111.00) on shares of Boeing in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.90.

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.