ING Groep NV Makes New $11.68 Million Investment in The Boeing Company (NYSE:BA)

ING Groep NV acquired a new stake in shares of The Boeing Company (NYSE:BA) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 76,813 shares of the aircraft producer’s stock, valued at approximately $11,679,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. grew its position in Boeing by 7.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,267 shares of the aircraft producer’s stock worth $2,473,000 after buying an additional 1,079 shares in the last quarter. Black Swift Group LLC raised its stake in Boeing by 76.6% in the third quarter. Black Swift Group LLC now owns 18,100 shares of the aircraft producer’s stock valued at $2,752,000 after purchasing an additional 7,850 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Boeing by 3.0% in the 3rd quarter. Metis Global Partners LLC now owns 18,701 shares of the aircraft producer’s stock worth $2,843,000 after buying an additional 548 shares during the last quarter. Planning Capital Management Corp raised its position in shares of Boeing by 741.0% during the 3rd quarter. Planning Capital Management Corp now owns 328 shares of the aircraft producer’s stock valued at $50,000 after buying an additional 289 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Boeing by 85.4% in the third quarter. Zions Bancorporation N.A. now owns 1,550 shares of the aircraft producer’s stock worth $236,000 after acquiring an additional 714 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Down 1.3 %

BA opened at $138.13 on Friday. The company has a market cap of $85.39 billion, a price-to-earnings ratio of -10.71 and a beta of 1.57. The stock has a fifty day simple moving average of $154.03 and a two-hundred day simple moving average of $169.89. The Boeing Company has a 12-month low of $137.22 and a 12-month high of $267.54.

Boeing (NYSE:BA) last issued 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 company had revenue of $17.84 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business posted ($3.26) earnings per share. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts predict that The Boeing Company will post -16.09 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on BA. Susquehanna dropped their price target on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. DZ Bank downgraded shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Boeing in a research note on Wednesday, October 30th. Robert W. Baird lowered their price target on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen reduced their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.37.

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.