Starfire Investment Advisers Inc. Takes Position in Boeing Co (NYSE:BA)

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Starfire Investment Advisers Inc. bought a new stake in shares of Boeing Co (NYSE:BA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,193 shares of the aircraft producer’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diligent Investors LLC boosted its position in shares of Boeing by 51.4% during the 2nd quarter. Diligent Investors LLC now owns 7,184 shares of the aircraft producer’s stock valued at $1,317,000 after acquiring an additional 2,440 shares during the last quarter. KG&L Capital Management LLC lifted its position in Boeing by 60.4% in the second quarter. KG&L Capital Management LLC now owns 12,287 shares of the aircraft producer’s stock worth $2,252,000 after buying an additional 4,627 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Boeing in the second quarter worth $219,000. Oak Asset Management LLC lifted its position in Boeing by 4.0% in the second quarter. Oak Asset Management LLC now owns 2,043 shares of the aircraft producer’s stock worth $374,000 after buying an additional 79 shares during the last quarter. Finally, Regal Wealth Group Inc. lifted its position in Boeing by 2.9% in the second quarter. Regal Wealth Group Inc. now owns 26,113 shares of the aircraft producer’s stock worth $4,787,000 after buying an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 61.88% of the company’s stock.

BA traded down $5.25 on Thursday, hitting $174.83. The company had a trading volume of 22,757,100 shares, compared to its average volume of 60,465,848. The stock has a fifty day moving average price of $174.46 and a 200-day moving average price of $221.88. Boeing Co has a 12-month low of $89.00 and a 12-month high of $391.00. The stock has a market capitalization of $101.62 billion, a price-to-earnings ratio of -28.85 and a beta of 1.47.

Boeing (NYSE:BA) last posted its earnings results on Wednesday, April 29th. The aircraft producer reported ($1.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.04) by $0.34. Boeing had a negative return on equity of 3.08% and a negative net margin of 4.84%. The company had revenue of $16.91 billion for the quarter, compared to analyst estimates of $16.90 billion. During the same quarter in the previous year, the firm earned $3.16 earnings per share. The firm’s quarterly revenue was down 26.2% compared to the same quarter last year. On average, research analysts forecast that Boeing Co will post -6.08 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the company. Nord/LB downgraded Boeing from a “hold” rating to a “sell” rating in a research report on Tuesday, May 5th. Canaccord Genuity lowered their price target on Boeing from $175.00 to $155.00 and set a “hold” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $158.00 price target (up from $130.00) on shares of Boeing in a research report on Friday, May 1st. Argus upgraded Boeing from a “hold” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Friday, March 27th. Finally, Jefferies Financial Group increased their target price on Boeing from $185.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $228.46.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.

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Institutional Ownership by Quarter for Boeing (NYSE:BA)

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