Nicholas Hoffman & Company LLC. Grows Position in The Boeing Company (NYSE:BA)

Nicholas Hoffman & Company LLC. boosted its position in shares of The Boeing Company (NYSE:BA) by 9.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,855 shares of the aircraft producer’s stock after buying an additional 500 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Boeing were worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Boeing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock worth $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Van ECK Associates Corp lifted its position in shares of Boeing by 9,626.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,026,092 shares of the aircraft producer’s stock worth $186,759,000 after purchasing an additional 1,015,542 shares during the period. Wulff Hansen & CO. boosted its stake in shares of Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after purchasing an additional 960,993 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Boeing by 14.1% during the 1st quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after purchasing an additional 518,952 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE BA opened at $152.97 on Wednesday. The Boeing Company has a one year low of $146.02 and a one year high of $267.54. The stock has a 50-day moving average of $158.72 and a 200 day moving average of $171.36. The company has a market capitalization of $93.91 billion, a price-to-earnings ratio of -43.09 and a beta of 1.57.

Boeing (NYSE:BA) last issued its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the firm earned ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts predict that The Boeing Company will post -5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group lowered their price objective on shares of Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Boeing in a research report on Thursday, October 24th. Morgan Stanley decreased their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Susquehanna dropped their target price on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on shares of Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $191.79.

Boeing Profile

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.