Connective Portfolio Management LLC Takes Position in The Boeing Company (NYSE:BA)

Connective Portfolio Management LLC acquired a new stake in shares of The Boeing Company (NYSE:BA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,000 shares of the aircraft producer's stock, valued at approximately $1,062,000. Boeing makes up 1.6% of Connective Portfolio Management LLC's investment portfolio, making the stock its 28th largest position.

Several other institutional investors have also modified their holdings of BA. American Century Companies Inc. raised its position in Boeing by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 44,992 shares of the aircraft producer's stock valued at $8,189,000 after buying an additional 7,739 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Boeing by 10.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 556,361 shares of the aircraft producer's stock worth $101,263,000 after acquiring an additional 50,767 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Boeing by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,289 shares of the aircraft producer's stock valued at $232,479,000 after purchasing an additional 98,973 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of Boeing by 13.5% in the second quarter. Pekin Hardy Strauss Inc. now owns 2,820 shares of the aircraft producer's stock worth $513,000 after purchasing an additional 335 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Boeing by 14.2% during the second quarter. Axxcess Wealth Management LLC now owns 15,846 shares of the aircraft producer's stock worth $2,884,000 after purchasing an additional 1,970 shares during the last quarter. Institutional investors own 64.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BA. The Goldman Sachs Group dropped their price target on shares of Boeing from $232.00 to $202.00 and set a "buy" rating on the stock in a research report on Tuesday, September 24th. Morgan Stanley decreased their price objective on shares of Boeing from $195.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 24th. Susquehanna dropped their target price on shares of Boeing from $210.00 to $200.00 and set a "positive" rating for the company in a report on Thursday, October 24th. Barclays raised shares of Boeing from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $190.00 to $210.00 in a report on Monday, January 6th. Finally, TD Cowen dropped their price objective on shares of Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Boeing presently has an average rating of "Moderate Buy" and a consensus price target of $192.21.

Boeing Stock Up 1.8 %

BA traded up $2.92 during trading on Thursday, hitting $169.12. The company's stock had a trading volume of 4,453,538 shares, compared to its average volume of 7,864,201. The firm has a market capitalization of $104.55 billion, a P/E ratio of -13.10 and a beta of 1.52. The Boeing Company has a twelve month low of $137.03 and a twelve month high of $217.59. The stock's fifty day moving average price is $162.02 and its 200-day moving average price is $164.97.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($10.34) by ($0.10). The firm had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned ($3.26) earnings per share. Boeing's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that The Boeing Company will post -16.43 EPS for the current fiscal 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.