Wealthspire Advisors LLC Grows Position in The Boeing Company (NYSE:BA)

Wealthspire Advisors LLC raised its position in The Boeing Company (NYSE:BA) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,757 shares of the aircraft producer’s stock after acquiring an additional 895 shares during the quarter. Wealthspire Advisors LLC’s holdings in Boeing were worth $2,022,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Boeing by 0.8% during the third 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 increased its position in Boeing by 1.1% during the third quarter. Morgan Stanley now owns 8,362,267 shares of the aircraft producer’s stock worth $1,602,880,000 after buying an additional 91,801 shares during the period. Northern Trust Corp lifted its stake in Boeing by 3.2% in the third 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 last quarter. Jennison Associates LLC acquired a new stake in shares of Boeing in the fourth quarter valued at approximately $960,397,000. Finally, Invesco Ltd. grew its position in shares of Boeing by 30.1% during the third quarter. Invesco Ltd. now owns 3,279,421 shares of the aircraft producer’s stock worth $628,599,000 after acquiring an additional 759,267 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boeing from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Argus downgraded shares of Boeing from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Melius restated a “hold” rating on shares of Boeing in a report on Monday, April 1st. Wells Fargo & Company lowered their target price on Boeing from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reduced their price target on Boeing from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $222.41.

Boeing Stock Performance

Shares of Boeing stock traded up $0.94 during trading hours on Thursday, reaching $181.29. The company’s stock had a trading volume of 5,094,057 shares, compared to its average volume of 9,504,012. The Boeing Company has a one year low of $159.70 and a one year high of $267.54. The company’s 50 day simple moving average is $182.26 and its 200 day simple moving average is $205.96. The stock has a market cap of $111.29 billion, a P/E ratio of -51.06 and a beta of 1.54.

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.