Channing Capital Management LLC Makes New $7.20 Million Investment in The Boeing Company (NYSE:BA)

Channing Capital Management LLC bought a new stake in The Boeing Company (NYSE:BA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,618 shares of the aircraft producer’s stock, valued at approximately $7,199,000.

Several other institutional investors have also recently made changes to their positions in the company. Sheets Smith Wealth Management bought a new position in Boeing in the fourth quarter worth approximately $593,000. Connecticut Wealth Management LLC increased its holdings in Boeing by 2.1% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,834 shares of the aircraft producer’s stock worth $739,000 after buying an additional 57 shares during the period. Alan B Lancz & Associates Inc. acquired a new position in Boeing during the fourth quarter valued at $209,000. Ellerson Group Inc. ADV boosted its stake in shares of Boeing by 5.2% in the fourth quarter. Ellerson Group Inc. ADV now owns 15,179 shares of the aircraft producer’s stock worth $3,957,000 after buying an additional 745 shares during the last quarter. Finally, TCG Advisory Services LLC grew its stake in shares of Boeing by 636.9% during the 4th quarter. TCG Advisory Services LLC now owns 20,810 shares of the aircraft producer’s stock worth $5,424,000 after purchasing an additional 17,986 shares during the period. Institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.3 %

NYSE:BA traded down $2.39 during trading hours on Monday, hitting $177.40. 10,854,913 shares of the stock traded hands, compared to its average volume of 9,634,536. The Boeing Company has a fifty-two week low of $159.70 and a fifty-two week high of $267.54. The firm has a market cap of $108.90 billion, a price-to-earnings ratio of -51.03 and a beta of 1.54. The firm has a 50 day moving average price of $183.74 and a 200 day moving average price of $206.20.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Argus cut shares of Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Melius Research reaffirmed a “hold” rating on shares of Boeing in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boeing from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Sanford C. Bernstein dropped their price objective on Boeing from $272.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Boeing has an average rating of “Hold” and an average target price of $222.41.

Boeing 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.