Coastal Bridge Advisors LLC Grows Stock Holdings in The Boeing Company (NYSE:BA)

Coastal Bridge Advisors LLC increased its stake in The Boeing Company (NYSE:BA) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,246 shares of the aircraft producer’s stock after buying an additional 476 shares during the period. Coastal Bridge Advisors LLC’s holdings in Boeing were worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Magnolia Capital Advisors LLC purchased a new position in Boeing in the second quarter worth about $12,004,000. Sepio Capital LP grew its holdings in shares of Boeing by 5.6% during the second quarter. Sepio Capital LP now owns 37,181 shares of the aircraft producer’s stock valued at $6,767,000 after buying an additional 1,973 shares during the last quarter. Beaird Harris Wealth Management LLC increased its position in shares of Boeing by 104.7% during the second quarter. Beaird Harris Wealth Management LLC now owns 434 shares of the aircraft producer’s stock valued at $79,000 after acquiring an additional 222 shares in the last quarter. Sender Co & Partners Inc. raised its holdings in Boeing by 1,131.0% in the 2nd quarter. Sender Co & Partners Inc. now owns 21,223 shares of the aircraft producer’s stock worth $3,863,000 after acquiring an additional 19,499 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after acquiring an additional 67,474 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

BA has been the subject of a number of research analyst reports. Robert W. Baird reduced their target price on Boeing from $300.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. UBS Group reduced their price objective on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $225.00 target price on shares of Boeing in a research note on Tuesday, June 25th. Stifel Nicolaus lifted their price target on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group lowered their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Three investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.83.

Boeing Stock Up 1.1 %

NYSE BA opened at $156.32 on Friday. The Boeing Company has a 52 week low of $151.65 and a 52 week high of $267.54. The company has a market capitalization of $95.96 billion, a P/E ratio of -44.03 and a beta of 1.57. The stock’s 50-day moving average price is $168.52 and its 200-day moving average price is $176.15.

Boeing (NYSE:BA) last released 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 the consensus estimate of $17.35 billion. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.82) EPS. Research analysts anticipate that The Boeing Company will post -4.27 EPS for the current year.

About Boeing

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.