Portside Wealth Group LLC Raises Holdings in The Boeing Company (NYSE:BA)

Portside Wealth Group LLC lifted its position in shares of The Boeing Company (NYSE:BA) by 46.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,139 shares of the aircraft producer’s stock after acquiring an additional 4,491 shares during the quarter. Portside Wealth Group LLC’s holdings in Boeing were worth $2,150,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Boeing by 289.8% during 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 purchasing an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Boeing by 2.5% during the first quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after purchasing an additional 1,222,816 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock valued at $176,073,000 after buying an additional 960,993 shares during the period. Finally, Newport Trust Company LLC raised its stake in Boeing by 1.2% in the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock worth $5,758,830,000 after buying an additional 388,633 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

BA has been the topic of several recent research reports. Morgan Stanley dropped their target price on Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut their target price on Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Citigroup decreased their price target on shares of Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, Benchmark restated a “buy” rating and issued a $250.00 price target on shares of Boeing in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boeing currently has an average rating of “Hold” and a consensus price target of $190.37.

Boeing Stock Up 2.6 %

Shares of NYSE:BA opened at $150.98 on Friday. The Boeing Company has a 52-week low of $144.13 and a 52-week high of $267.54. The stock has a market cap of $93.34 billion, a price-to-earnings ratio of -11.70 and a beta of 1.57. The business has a 50-day moving average price of $156.17 and a 200-day moving average price of $170.60.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business posted ($3.26) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Boeing Company will post -16.09 EPS for the current fiscal year.

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.