Marks Group Wealth Management Inc Invests $219,000 in The Boeing Company (NYSE:BA)

Marks Group Wealth Management Inc bought a new position in The Boeing Company (NYSE:BA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 839 shares of the aircraft producer’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in Boeing during the 4th quarter valued at about $960,397,000. Lazard Asset Management LLC lifted its stake in Boeing by 8,961.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,161,461 shares of the aircraft producer’s stock valued at $222,628,000 after acquiring an additional 1,148,643 shares during the period. Barclays PLC lifted its stake in Boeing by 54.5% during the 3rd quarter. Barclays PLC now owns 2,351,731 shares of the aircraft producer’s stock valued at $450,783,000 after acquiring an additional 829,321 shares during the period. Invesco Ltd. lifted its stake in Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after acquiring an additional 759,267 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Boeing by 726.7% in the 4th quarter. Cerity Partners LLC now owns 624,906 shares of the aircraft producer’s stock worth $162,888,000 after purchasing an additional 549,318 shares during the period. 64.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Northcoast Research cut shares of Boeing from a “neutral” rating to a “sell” rating and set a $140.00 price objective on the stock. in a research note on Wednesday, April 17th. Edward Jones lowered shares of Boeing from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Sanford C. Bernstein cut their target price on shares of Boeing from $272.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 8th. Barclays dropped their price objective on shares of Boeing from $235.00 to $190.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Bank of America dropped their price objective on shares of Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.71.

Boeing Stock Performance

Shares of BA stock opened at $175.35 on Wednesday. The firm has a market capitalization of $106.99 billion, a PE ratio of -47.65, a P/E/G ratio of 135.00 and a beta of 1.52. The Boeing Company has a fifty-two week low of $167.53 and a fifty-two week high of $267.54. The stock’s 50-day simple moving average is $188.81 and its 200-day simple moving average is $207.19.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned ($1.75) earnings per share. Sell-side analysts forecast that The Boeing Company will post 0.32 earnings per share for the current year.

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.