SVB Wealth LLC Purchases 3,339 Shares of The Boeing Company (NYSE:BA)

SVB Wealth LLC boosted its position in The Boeing Company (NYSE:BA) by 19.1% during the fourth quarter, Holdings Channel reports. The fund owned 20,839 shares of the aircraft producer’s stock after acquiring an additional 3,339 shares during the period. SVB Wealth LLC’s holdings in Boeing were worth $5,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. First American Trust FSB bought a new position in Boeing in the fourth quarter valued at $367,000. Grant GrossMendelsohn LLC boosted its position in Boeing by 9.5% during the fourth quarter. Grant GrossMendelsohn LLC now owns 1,151 shares of the aircraft producer’s stock valued at $300,000 after buying an additional 100 shares during the period. Emfo LLC boosted its position in Boeing by 50.0% during the fourth quarter. Emfo LLC now owns 3,000 shares of the aircraft producer’s stock valued at $782,000 after buying an additional 1,000 shares during the period. Flputnam Investment Management Co. boosted its position in Boeing by 14.0% during the fourth quarter. Flputnam Investment Management Co. now owns 3,361 shares of the aircraft producer’s stock valued at $876,000 after buying an additional 414 shares during the period. Finally, Capital Analysts LLC increased its stake in shares of Boeing by 2.0% during the fourth quarter. Capital Analysts LLC now owns 15,617 shares of the aircraft producer’s stock valued at $4,071,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Boeing stock opened at $170.55 on Wednesday. The company’s 50-day moving average price is $192.69 and its 200-day moving average price is $207.80. The Boeing Company has a twelve month low of $167.53 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to the consensus estimate of $21.14 billion. Boeing’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.75) earnings per share. As a group, equities analysts forecast that The Boeing Company will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BA. Royal Bank of Canada dropped their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Bank of America dropped their price target on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Edward Jones cut shares of Boeing from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Northcoast Research cut shares of Boeing from a “buy” rating to a “neutral” rating in a research note on Friday, February 23rd. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $233.88.

About Boeing

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.