Royal London Asset Management Ltd. Grows Holdings in The Boeing Company (NYSE:BA)

Royal London Asset Management Ltd. raised its position in The Boeing Company (NYSE:BA) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 236,811 shares of the aircraft producer’s stock after buying an additional 6,676 shares during the period. Royal London Asset Management Ltd.’s holdings in Boeing were worth $36,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC purchased a new position in Boeing in the third quarter valued at $28,000. Cedar Wealth Management LLC purchased a new position in Boeing in the third quarter valued at $30,000. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing in the second quarter valued at $33,000. Hobbs Group Advisors LLC purchased a new position in Boeing in the second quarter valued at $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Boeing by 351.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. DZ Bank lowered shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $195.00 to $169.00 in a research report on Wednesday, October 30th. Finally, Citigroup dropped their target price on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

Boeing stock opened at $156.68 on Friday. The company’s 50 day simple moving average is $151.63 and its 200-day simple moving average is $166.82. The company has a market capitalization of $96.86 billion, a price-to-earnings ratio of -12.15 and a beta of 1.56. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54.

Boeing (NYSE:BA) last released its quarterly earnings results 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 firm had revenue of $17.84 billion for the quarter, compared to analyst estimates of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned ($3.26) earnings per share. Equities analysts expect that The Boeing Company will post -16.18 earnings per share for the current year.

Boeing Company 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.