Belpointe Asset Management LLC Increases Stock Position in The Boeing Company (NYSE:BA)

Belpointe Asset Management LLC grew its stake in The Boeing Company (NYSE:BA - Free Report) by 45.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,233 shares of the aircraft producer's stock after acquiring an additional 3,830 shares during the period. Belpointe Asset Management LLC's holdings in Boeing were worth $2,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brio Consultants LLC purchased a new stake in Boeing in the fourth quarter worth about $207,000. Van ECK Associates Corp raised its holdings in shares of Boeing by 11.6% in the 4th quarter. Van ECK Associates Corp now owns 3,426 shares of the aircraft producer's stock valued at $893,000 after purchasing an additional 357 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Boeing by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,012,207 shares of the aircraft producer's stock worth $785,162,000 after purchasing an additional 27,347 shares during the period. Gryphon Financial Partners LLC bought a new position in shares of Boeing during the fourth quarter valued at approximately $258,000. Finally, Everpar Advisors LLC purchased a new position in Boeing during the fourth quarter valued at approximately $306,000. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BA has been the subject of a number of analyst reports. Bank of America upped their target price on Boeing from $180.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, June 13th. Susquehanna reaffirmed a "positive" rating and set a $230.00 price objective on shares of Boeing in a research report on Wednesday, August 14th. UBS Group reduced their target price on shares of Boeing from $250.00 to $240.00 and set a "buy" rating for the company in a report on Friday, June 7th. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $119.00 price objective (down previously from $185.00) on shares of Boeing in a research note on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

Boeing Price Performance

NYSE:BA traded up $2.20 during midday trading on Wednesday, hitting $163.22. The company's stock had a trading volume of 7,083,328 shares, compared to its average volume of 7,907,059. The Boeing Company has a fifty-two week low of $158.30 and a fifty-two week high of $267.54. The firm has a market cap of $100.20 billion, a P/E ratio of -45.36 and a beta of 1.56. The firm's 50 day moving average is $177.74 and its 200-day moving average is $181.39.

Boeing (NYSE:BA - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion for the quarter, compared to analysts' expectations of $17.35 billion. Boeing's revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.82) EPS. As a group, analysts forecast that The Boeing Company will post -4.26 EPS for the current 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.