The Boeing Company (NYSE:BA) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in shares of The Boeing Company (NYSE:BA) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,005 shares of the aircraft producer’s stock after purchasing an additional 1,064 shares during the period. Miracle Mile Advisors LLC’s holdings in Boeing were worth $3,668,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors grew its holdings in Boeing by 35.5% in the fourth quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock valued at $4,400,109,000 after purchasing an additional 4,425,964 shares during the period. Jennison Associates LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $960,397,000. Wellington Management Group LLP grew its holdings in Boeing by 563.9% in the fourth quarter. Wellington Management Group LLP now owns 3,439,093 shares of the aircraft producer’s stock valued at $896,434,000 after purchasing an additional 2,921,043 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Boeing by 23.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock valued at $2,560,466,000 after purchasing an additional 1,884,850 shares during the period. Finally, Boston Partners grew its holdings in Boeing by 861.6% in the fourth quarter. Boston Partners now owns 1,804,853 shares of the aircraft producer’s stock valued at $467,338,000 after purchasing an additional 1,617,151 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BA. JPMorgan Chase & Co. reduced their target price on shares of Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Robert W. Baird reduced their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, June 3rd. Morgan Stanley reduced their target price on shares of Boeing from $235.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. Melius Research reissued a “hold” rating on shares of Boeing in a research report on Monday, April 1st. Finally, Argus lowered shares of Boeing from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.89.

Boeing Price Performance

BA stock opened at $186.70 on Tuesday. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The firm has a fifty day moving average price of $178.50 and a two-hundred day moving average price of $198.05. The firm has a market cap of $114.61 billion, a price-to-earnings ratio of -52.74 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.30. The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $17.69 billion. As a group, analysts expect that The Boeing Company will post -1.67 EPS for the current fiscal year.

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.