OVERSEA CHINESE BANKING Corp Ltd Grows Stock Holdings in The Boeing Company (NYSE:BA)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in The Boeing Company (NYSE:BA) by 34.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,513 shares of the aircraft producer’s stock after acquiring an additional 1,411 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Boeing were worth $1,436,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BA. CNB Bank lifted its position in Boeing by 106.5% in the third quarter. CNB Bank now owns 128 shares of the aircraft producer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. True Wealth Design LLC bought a new position in Boeing during the 4th quarter valued at about $33,000. Park Place Capital Corp raised its position in Boeing by 185.1% in the 3rd quarter. Park Place Capital Corp now owns 211 shares of the aircraft producer’s stock worth $40,000 after purchasing an additional 137 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in Boeing in the fourth quarter worth about $41,000. Finally, Fortis Capital Advisors LLC boosted its position in shares of Boeing by 100.0% during the first quarter. Fortis Capital Advisors LLC now owns 200 shares of the aircraft producer’s stock valued at $42,000 after buying an additional 100 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BA has been the topic of several recent analyst reports. UBS Group reduced their price target on Boeing from $275.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Northcoast Research lowered Boeing from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a research note on Wednesday. Bank of America decreased their target price on Boeing from $210.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Royal Bank of Canada cut their price target on shares of Boeing from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, Stifel Nicolaus reduced their price target on shares of Boeing from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.35.

Boeing Stock Performance

BA stock traded down $0.41 during trading on Friday, hitting $169.82. 4,693,869 shares of the company’s stock traded hands, compared to its average volume of 6,936,782. The business has a fifty day simple moving average of $190.29 and a two-hundred day simple moving average of $207.28. The Boeing Company has a 1 year low of $167.53 and a 1 year high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, January 31st. The aircraft producer reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.25. The company had revenue of $22.02 billion during the quarter, compared to analysts’ expectations of $21.14 billion. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.75) earnings per share. On average, sell-side analysts anticipate that The Boeing Company will post 0.32 EPS for the current fiscal 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.