PFG Investments LLC Has $3.05 Million Stock Position in The Boeing Company (NYSE:BA)

PFG Investments LLC lessened its stake in The Boeing Company (NYSE:BA) by 23.7% in the third quarter, HoldingsChannel reports. The firm owned 20,057 shares of the aircraft producer’s stock after selling 6,230 shares during the period. PFG Investments LLC’s holdings in Boeing were worth $3,049,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of 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 worth $2,558,790,000 after acquiring an additional 1,251,165 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $9,596,383,000 after purchasing an additional 1,222,816 shares during the period. Van ECK Associates Corp increased its stake in Boeing by 9,626.0% during 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 in the last quarter. Wulff Hansen & CO. raised its holdings in Boeing by 15,039.0% during the 2nd quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after buying an additional 960,993 shares during the period. Finally, Jennison Associates LLC lifted its stake in Boeing by 14.1% in the first quarter. Jennison Associates LLC now owns 4,203,435 shares of the aircraft producer’s stock valued at $811,221,000 after buying an additional 518,952 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Boeing in a research report on Thursday. Jefferies Financial Group lowered their target price on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a report on Monday, September 23rd. TD Cowen cut their price target on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their target price on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.79.

Boeing Price Performance

NYSE BA traded down $0.19 during trading on Friday, reaching $155.01. 8,152,969 shares of the company’s stock were exchanged, compared to its average volume of 8,128,691. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The stock has a market capitalization of $95.16 billion, a P/E ratio of -43.65 and a beta of 1.57. The business has a 50 day moving average price of $159.68 and a 200-day moving average price of $171.70.

Boeing (NYSE:BA) last posted its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates 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. On average, analysts forecast that The Boeing Company will post -5.35 earnings per share for the current 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.