Kerusso Capital Management LLC Grows Holdings in The Boeing Company (NYSE:BA)

Kerusso Capital Management LLC raised its stake in The Boeing Company (NYSE:BA) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,940 shares of the aircraft producer’s stock after acquiring an additional 668 shares during the quarter. Kerusso Capital Management LLC’s holdings in Boeing were worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the 2nd quarter valued at $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing during the 2nd quarter valued at about $34,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Boeing during the 2nd quarter valued at about $39,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Boeing during the 2nd quarter valued at about $41,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Up 0.5 %

Shares of BA opened at $151.68 on Friday. The Boeing Company has a 52-week low of $144.13 and a 52-week high of $267.54. The company has a market capitalization of $93.77 billion, a PE ratio of -11.76 and a beta of 1.57. The stock has a fifty day simple moving average of $155.31 and a two-hundred day simple moving average of $170.34.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS 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 the consensus estimate of $17.81 billion. Boeing’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the business earned ($3.26) EPS. As a group, equities analysts anticipate that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Boeing from $224.00 to $209.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Three investment 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’s stock. According to MarketBeat.com, Boeing has an average rating of “Hold” and an average 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.