Stanley Laman Group Ltd. Grows Stake in The Boeing Company (NYSE:BA)

Stanley Laman Group Ltd. increased its position in shares of The Boeing Company (NYSE:BA) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,981 shares of the aircraft producer’s stock after buying an additional 424 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Boeing were worth $3,798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BA. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the 2nd quarter worth approximately $33,000. Hobbs Group Advisors LLC acquired a new position in Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. increased its position in Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing during the second quarter worth $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

BA has been the subject of several recent research reports. The Goldman Sachs Group dropped their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Morgan Stanley dropped their price target on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, October 18th. Citigroup lowered their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus lifted their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.79.

Boeing Price Performance

Shares of BA opened at $159.85 on Wednesday. The stock’s 50-day moving average is $160.84 and its two-hundred day moving average is $172.11. The stock has a market cap of $98.13 billion, a PE ratio of -45.03 and a beta of 1.57. The Boeing Company has a 12 month low of $146.02 and a 12 month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $17.35 billion. Boeing’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.82) EPS. On average, research analysts anticipate that The Boeing Company will post -5.35 earnings per share 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.