Mittelman Wealth Management Acquires 316 Shares of The Boeing Company (NYSE:BA)

Mittelman Wealth Management lifted its stake in The Boeing Company (NYSE:BA) by 30.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,353 shares of the aircraft producer’s stock after purchasing an additional 316 shares during the period. Mittelman Wealth Management’s holdings in Boeing were worth $246,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BA. Capital Research Global Investors grew its position 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 buying an additional 4,425,964 shares during the period. Wellington Management Group LLP grew its holdings in Boeing by 563.9% during 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% during 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. Global Assets Advisory LLC bought a new stake in Boeing in the first quarter valued at approximately $272,312,000. Finally, Vanguard Group Inc. raised its holdings in Boeing by 2.5% in the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Price Performance

Boeing stock opened at $155.17 on Thursday. The Boeing Company has a one year low of $154.02 and a one year high of $267.54. The firm has a market cap of $95.26 billion, a PE ratio of -43.71 and a beta of 1.57. The stock’s fifty day moving average price is $172.38 and its two-hundred day moving average price is $178.23.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The company had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same quarter last year, the business earned ($0.82) earnings per share. Boeing’s revenue was down 14.6% compared to the same quarter last year. Sell-side analysts expect that The Boeing Company will post -4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on BA. UBS Group lowered their price objective on shares of Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Sanford C. Bernstein dropped their price target on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Bank of America boosted their price objective on Boeing from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, June 13th. Robert W. Baird dropped their target price on shares of Boeing from $300.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $225.00 price target on shares of Boeing in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.