Empirical Finance LLC Raises Holdings in The Boeing Company (NYSE:BA)

Empirical Finance LLC lifted its position in shares of The Boeing Company (NYSE:BA) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,466 shares of the aircraft producer’s stock after purchasing an additional 442 shares during the period. Empirical Finance LLC’s holdings in Boeing were worth $2,960,000 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. Madison Park Capital Advisors LLC raised its position in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock valued at $219,000 after purchasing an additional 56 shares during the period. Wealth Alliance Advisory Group LLC boosted its holdings in Boeing by 1.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after acquiring an additional 60 shares during the period. IMS Capital Management grew its position in shares of Boeing by 0.4% in the second quarter. IMS Capital Management now owns 16,032 shares of the aircraft producer’s stock valued at $2,759,000 after purchasing an additional 62 shares during the last quarter. ADE LLC increased its stake in shares of Boeing by 4.4% in the second quarter. ADE LLC now owns 1,539 shares of the aircraft producer’s stock worth $280,000 after purchasing an additional 65 shares during the period. Finally, Towercrest Capital Management boosted its stake in Boeing by 5.2% during the 1st quarter. Towercrest Capital Management now owns 1,357 shares of the aircraft producer’s stock valued at $262,000 after purchasing an additional 67 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BA. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Boeing in a report on Wednesday, October 30th. Jefferies Financial Group decreased their price target on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird decreased their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup decreased their price objective on Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Sanford C. Bernstein lowered Boeing from an “outperform” rating to a “market perform” rating and cut their target price for the company from $195.00 to $169.00 in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

NYSE BA opened at $137.60 on Friday. The firm has a 50-day moving average of $154.03 and a 200-day moving average of $169.89. The Boeing Company has a 52-week low of $137.22 and a 52-week high of $267.54.

Boeing (NYSE:BA) last announced its quarterly earnings data on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.34) by ($0.10). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter last year, the firm earned ($3.26) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that The Boeing Company will post -16.09 earnings per share for the current 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.