Udine Wealth Management Inc. Makes New $2 Million Investment in The Boeing Company (NYSE:BA)

Udine Wealth Management Inc. purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 11,315 shares of the aircraft producer's stock, valued at approximately $2,003,000. Boeing makes up approximately 1.3% of Udine Wealth Management Inc.'s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds also recently modified their holdings of BA. Financial Management Professionals Inc. grew its stake in shares of Boeing by 41.5% in the 4th quarter. Financial Management Professionals Inc. now owns 795 shares of the aircraft producer's stock worth $141,000 after purchasing an additional 233 shares during the last quarter. Ameritas Advisory Services LLC grew its position in Boeing by 68.4% in the fourth quarter. Ameritas Advisory Services LLC now owns 29,961 shares of the aircraft producer's stock worth $5,303,000 after buying an additional 12,171 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Boeing by 39.1% in the fourth quarter. HB Wealth Management LLC now owns 13,507 shares of the aircraft producer's stock valued at $2,390,000 after buying an additional 3,799 shares in the last quarter. Westend Capital Management LLC acquired a new stake in shares of Boeing during the 4th quarter valued at $17,567,000. Finally, Premier Path Wealth Partners LLC boosted its stake in shares of Boeing by 9.6% during the 4th quarter. Premier Path Wealth Partners LLC now owns 10,501 shares of the aircraft producer's stock worth $1,859,000 after acquiring an additional 918 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Boeing from $184.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of Boeing from $86.00 to $85.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Boeing from $195.00 to $190.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Morgan Stanley lowered 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 report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on Boeing from $232.00 to $202.00 and set a "buy" rating for the company in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $192.21.

Boeing Stock Performance

Shares of Boeing stock traded up $2.21 on Friday, reaching $171.14. The stock had a trading volume of 9,537,359 shares, compared to its average volume of 9,471,018. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The business's 50-day moving average price is $163.15 and its two-hundred day moving average price is $164.75. The stock has a market cap of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52.

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