Ellis Investment Partners LLC Has $401,000 Stock Position in The Boeing Company (NYSE:BA)

Ellis Investment Partners LLC increased its holdings in The Boeing Company (NYSE:BA) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,637 shares of the aircraft producer’s stock after acquiring an additional 330 shares during the period. Ellis Investment Partners LLC’s holdings in Boeing were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the last quarter. Newport Trust Company LLC lifted its holdings in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Boeing by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after buying an additional 106,513 shares in the last quarter. Jennison Associates LLC increased its holdings in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock worth $811,221,000 after buying an additional 518,952 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Down 0.1 %

Boeing stock traded down $0.19 on Friday, hitting $155.01. The company’s stock had a trading volume of 8,152,969 shares, compared to its average volume of 8,128,691. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The firm has a market cap of $95.16 billion, a P/E ratio of -43.66 and a beta of 1.57. The company has a fifty day moving average price of $159.68 and a 200-day moving average price of $171.66.

Boeing (NYSE:BA) last announced its quarterly earnings results 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 business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the company posted ($3.26) EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that The Boeing Company will post -5.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BA. Stifel Nicolaus raised their price target on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna cut their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Robert W. Baird lowered their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on Boeing from $109.00 to $86.00 and set an “underweight” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Moderate Buy” and an average price target of $191.79.

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.