Stevens Capital Management LP Purchases New Position in The Boeing Company (NYSE:BA)

Stevens Capital Management LP acquired a new position in The Boeing Company (NYSE:BA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 19,196 shares of the aircraft producer’s stock, valued at approximately $5,004,000. Boeing comprises about 1.2% of Stevens Capital Management LP’s holdings, making the stock its 12th largest holding.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Boeing by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,609,508 shares of the aircraft producer’s stock worth $9,125,790,000 after purchasing an additional 356,496 shares during the last quarter. Morgan Stanley raised 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 buying an additional 91,801 shares during the period. Northern Trust Corp raised its position in shares of Boeing by 3.2% during the 3rd quarter. Northern Trust Corp now owns 4,951,181 shares of the aircraft producer’s stock valued at $949,042,000 after buying an additional 153,168 shares during the period. Jennison Associates LLC purchased a new stake in shares of Boeing during the 4th quarter valued at approximately $960,397,000. Finally, Invesco Ltd. raised its position in shares of Boeing by 30.1% during the 3rd quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock valued at $628,599,000 after buying an additional 759,267 shares during the period. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE:BA traded up $0.41 during mid-day trading on Friday, reaching $167.22. The stock had a trading volume of 7,197,059 shares, compared to its average volume of 9,757,903. The firm has a market capitalization of $102.03 billion, a price-to-earnings ratio of -46.83, a PEG ratio of 130.13 and a beta of 1.52. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54. The business has a 50 day simple moving average of $187.26 and a 200 day simple moving average of $206.61.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the previous year, the business posted ($1.75) earnings per share. Boeing’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen reduced their price target on shares of Boeing from $275.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Susquehanna cut their target price on Boeing from $265.00 to $230.00 and set a “positive” rating on the stock in a research report on Thursday, March 21st. Wells Fargo & Company cut their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on Boeing from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Melius reaffirmed a “hold” rating on shares of Boeing in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.41.

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.