Trueblood Wealth Management LLC Takes Position in The Boeing Company (NYSE:BA)

Trueblood Wealth Management LLC acquired a new stake in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,029 shares of the aircraft producer’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BA. Vanguard Group Inc. grew its holdings 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 worth $9,125,790,000 after purchasing an additional 356,496 shares during the period. State Street Corp grew its holdings in shares of Boeing by 1.5% during the 2nd quarter. State Street Corp now owns 26,416,857 shares of the aircraft producer’s stock worth $5,578,184,000 after purchasing an additional 392,811 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Boeing by 109,667.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,055,730 shares of the aircraft producer’s stock worth $3,058,456,000 after purchasing an additional 16,041,103 shares during the period. Morgan Stanley grew its holdings in shares of Boeing by 1.1% during 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. Finally, Nuveen Asset Management LLC grew its holdings in shares of Boeing by 7.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,200,798 shares of the aircraft producer’s stock worth $1,309,361,000 after purchasing an additional 452,721 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BA shares. Wells Fargo & Company decreased their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Northcoast Research downgraded shares of Boeing from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Boeing in a research report on Monday. Edward Jones downgraded shares of Boeing from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Royal Bank of Canada decreased their price target on shares of Boeing from $285.00 to $260.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.53.

Boeing Price Performance

Shares of BA traded up $1.04 during trading hours on Thursday, reaching $192.99. 4,450,519 shares of the company’s stock traded hands, compared to its average volume of 10,419,490. The firm has a market capitalization of $117.75 billion, a price-to-earnings ratio of -52.43, a P/E/G ratio of 30.31 and a beta of 1.52. The Boeing Company has a twelve month low of $176.25 and a twelve month high of $267.54. The business’s fifty day simple moving average is $200.59 and its two-hundred day simple moving average is $209.84.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The business had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. Boeing’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business posted ($1.75) earnings per share. On average, equities research analysts expect that The Boeing Company will post 1.55 EPS for the current year.

Boeing 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.