Sanders Morris Harris LLC Buys 1,700 Shares of The Boeing Company (NYSE:BA)

Sanders Morris Harris LLC grew its stake in shares of The Boeing Company (NYSE:BA) by 7.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,675 shares of the aircraft producer’s stock after purchasing an additional 1,700 shares during the period. Boeing comprises approximately 0.6% of Sanders Morris Harris LLC’s portfolio, making the stock its 25th biggest position. Sanders Morris Harris LLC’s holdings in Boeing were worth $3,904,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BA. Kiely Wealth Advisory Group Inc. bought a new position in shares of Boeing in the second quarter valued at approximately $33,000. Vima LLC purchased a new position in Boeing in the fourth quarter valued at approximately $34,000. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. lifted its position in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of Boeing during the fourth quarter worth $39,000. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

BA stock opened at $149.88 on Thursday. The firm has a 50 day moving average price of $163.42 and a 200-day moving average price of $174.42. The Boeing Company has a 52-week low of $148.80 and a 52-week high of $267.54. The firm has a market capitalization of $92.01 billion, a price-to-earnings ratio of -42.07 and a beta of 1.57.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the previous year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Boeing Company will post -4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BA. The Goldman Sachs Group lowered their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. TD Cowen reduced their target price on Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein reduced their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.00.

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.