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Westend Capital Management LLC Makes New Investment in The Boeing Company (NYSE:BA)

Boeing logo with Aerospace background

Westend Capital Management LLC bought a new stake in The Boeing Company (NYSE:BA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,246 shares of the aircraft producer's stock, valued at approximately $17,567,000. Boeing makes up approximately 5.2% of Westend Capital Management LLC's investment portfolio, making the stock its 3rd biggest position.

A number of other institutional investors have also recently bought and sold shares of BA. RPg Family Wealth Advisory LLC acquired a new position in shares of Boeing in the 3rd quarter worth approximately $28,000. Cedar Wealth Management LLC bought a new stake in Boeing in the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing in the second quarter valued at $33,000. Planning Capital Management Corp lifted its holdings in shares of Boeing by 741.0% during the third quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer's stock valued at $50,000 after acquiring an additional 289 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Boeing during the third quarter valued at $58,000. Institutional investors and hedge funds own 64.82% of the company's stock.

Boeing Stock Up 1.3 %

Shares of NYSE:BA traded up $2.21 during midday trading on Friday, reaching $171.14. 9,537,359 shares of the company were exchanged, compared to its average volume of 9,471,018. The firm has a market cap of $105.80 billion, a PE ratio of -13.27 and a beta of 1.52. The Boeing Company has a fifty-two week low of $137.03 and a fifty-two week high of $217.59. The stock has a fifty day simple moving average of $163.15 and a two-hundred day simple moving average of $164.89.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BA. Susquehanna reduced their target price on Boeing from $210.00 to $200.00 and set a "positive" rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company decreased their target price on Boeing from $86.00 to $85.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. TD Cowen lowered their target price on Boeing from $200.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boeing from $184.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, January 2nd. Finally, Barclays upgraded shares of Boeing from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $190.00 to $210.00 in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $192.21.

View Our Latest Research Report on BA

Boeing Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Boeing (NYSE:BA)

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