Kovack Advisors Inc. Increases Stake in The Boeing Company (NYSE:BA)

Kovack Advisors Inc. grew its stake in The Boeing Company (NYSE:BA) by 14.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,361 shares of the aircraft producer’s stock after purchasing an additional 567 shares during the period. Kovack Advisors Inc.’s holdings in Boeing were worth $842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BA. Vanguard Group Inc. grew its position in Boeing by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 48,501,954 shares of the aircraft producer’s stock valued at $12,642,519,000 after buying an additional 892,446 shares during the period. Capital Research Global Investors boosted its stake in shares of Boeing by 35.5% during the 4th quarter. Capital Research Global Investors now owns 16,880,647 shares of the aircraft producer’s stock worth $4,400,109,000 after acquiring an additional 4,425,964 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Boeing by 23.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,823,006 shares of the aircraft producer’s stock worth $2,560,466,000 after acquiring an additional 1,884,850 shares in the last quarter. Morgan Stanley grew its position in shares of Boeing by 1.1% during the 3rd quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock valued at $1,602,880,000 after acquiring an additional 91,801 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Boeing by 1.1% in the 4th quarter. Northern Trust Corp now owns 5,003,262 shares of the aircraft producer’s stock valued at $1,304,150,000 after purchasing an additional 52,081 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Price Performance

NYSE:BA opened at $184.31 on Friday. The company’s 50-day moving average is $179.54 and its two-hundred day moving average is $196.92. The Boeing Company has a 1-year low of $159.70 and a 1-year high of $267.54. The firm has a market capitalization of $113.14 billion, a price-to-earnings ratio of -51.92 and a beta of 1.56.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, April 24th. The aircraft producer reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.30. The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $17.69 billion. As a group, equities analysts anticipate that The Boeing Company will post -1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on BA. The Goldman Sachs Group dropped their price objective on Boeing from $268.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Susquehanna reissued a “positive” rating and issued a $230.00 price target on shares of Boeing in a report on Wednesday, May 15th. TD Cowen decreased their price objective on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, March 25th. Benchmark reiterated a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Tuesday, March 26th. Finally, Sanford C. Bernstein reduced their price target on shares of Boeing from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, June 3rd. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boeing currently has a consensus rating of “Moderate Buy” and an average price target of $220.89.

Boeing Company 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.