Almanack Investment Partners LLC. Takes Position in The Boeing Company (NYSE:BA)

Almanack Investment Partners LLC. acquired a new stake in The Boeing Company (NYSE:BA – Get Rating) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 643 shares of the aircraft producer’s stock, valued at approximately $78,000.

Several other institutional investors and hedge funds have also modified their holdings of BA. United Bank grew its position in shares of Boeing by 4.7% in the 1st quarter. United Bank now owns 5,036 shares of the aircraft producer’s stock valued at $964,000 after purchasing an additional 226 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Boeing by 1,064.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 850 shares of the aircraft producer’s stock valued at $163,000 after purchasing an additional 777 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Boeing by 68.0% in the first quarter. Panagora Asset Management Inc. now owns 7,111 shares of the aircraft producer’s stock worth $1,362,000 after purchasing an additional 2,879 shares in the last quarter. Prudential PLC acquired a new stake in Boeing in the 1st quarter valued at $836,000. Finally, Dakota Wealth Management increased its stake in Boeing by 26.7% in the 1st quarter. Dakota Wealth Management now owns 2,127 shares of the aircraft producer’s stock valued at $408,000 after buying an additional 448 shares during the last quarter. 57.07% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Up 1.9 %

NYSE BA opened at $207.28 on Wednesday. The company has a market capitalization of $124.20 billion, a P/E ratio of -25.00, a P/E/G ratio of 54.52 and a beta of 1.43. The Boeing Company has a 12-month low of $113.02 and a 12-month high of $221.33. The firm has a 50-day moving average price of $209.44 and a two-hundred day moving average price of $177.35.

Boeing (NYSE:BA – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The aircraft producer reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.80). The business had revenue of $19.98 billion for the quarter, compared to analysts’ expectations of $20.10 billion. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the company earned ($7.69) earnings per share. Equities analysts expect that The Boeing Company will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada set a $225.00 price target on shares of Boeing in a research note on Tuesday. Morgan Stanley lowered shares of Boeing from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $213.00 to $220.00 in a research note on Tuesday, January 10th. StockNews.com upgraded shares of Boeing from a “sell” rating to a “hold” rating in a research note on Monday, January 30th. Robert W. Baird boosted their price objective on shares of Boeing from $210.00 to $250.00 in a research note on Tuesday, January 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Boeing from $218.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.13.

About Boeing

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The Boeing Co is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.