Sierra Ocean LLC Purchases New Holdings in The Boeing Company (NYSE:BA)

Sierra Ocean LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 149 shares of the aircraft producer’s stock, valued at approximately $26,000.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Boeing by 2.3% during the 3rd quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock valued at $4,223,397,000 after purchasing an additional 636,594 shares in the last quarter. Geode Capital Management LLC increased its stake in Boeing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,719,794 shares of the aircraft producer’s stock valued at $1,774,705,000 after purchasing an additional 320,415 shares in the last quarter. Jennison Associates LLC increased its stake in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after purchasing an additional 602,143 shares in the last quarter. Fisher Asset Management LLC increased its stake in Boeing by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after purchasing an additional 277,350 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Boeing by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,196,648 shares of the aircraft producer’s stock valued at $486,018,000 after purchasing an additional 48,637 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

Boeing Price Performance

Shares of NYSE:BA opened at $184.73 on Wednesday. The Boeing Company has a 1-year low of $137.03 and a 1-year high of $208.10. The company has a market capitalization of $138.56 billion, a P/E ratio of -10.08 and a beta of 1.52. The firm’s 50 day simple moving average is $175.51 and its two-hundred day simple moving average is $163.94.

Boeing (NYSE:BA) last issued its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same quarter last year, the firm earned ($0.47) EPS. On average, sell-side analysts anticipate that The Boeing Company will post -2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BA. Citigroup raised their price objective on shares of Boeing from $207.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Barclays upgraded shares of Boeing from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Boeing from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.16.

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.