The Boeing Company (NYSE:BA) Stock Position Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of The Boeing Company (NYSE:BA) by 122.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,277,548 shares of the aircraft producer’s stock after purchasing an additional 1,251,456 shares during the quarter. Van ECK Associates Corp owned about 0.37% of Boeing worth $357,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BA. Hobbs Group Advisors LLC acquired a new position in shares of Boeing during the 2nd quarter valued at $34,000. McClarren Financial Advisors Inc. increased its position in shares of Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Boeing during the 2nd quarter worth $39,000. 64.82% of the stock is currently owned by institutional investors and hedge funds.

Boeing Stock Performance

NYSE BA traded up $5.28 during trading on Friday, reaching $154.59. 18,894,509 shares of the company traded hands, compared to its average volume of 8,816,144. The company has a market cap of $95.57 billion, a price-to-earnings ratio of -11.98 and a beta of 1.57. The Boeing Company has a 1-year low of $146.02 and a 1-year high of $267.54. The stock’s 50 day moving average price is $157.46 and its two-hundred day moving average price is $171.00.

Boeing (NYSE:BA) last announced its earnings results 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. Boeing’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.26) earnings per share. Equities research analysts expect that The Boeing Company will post -16.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on BA. Citigroup reduced their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $195.00 to $169.00 in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Boeing in a report on Wednesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.42.

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.