Savvy Advisors Inc. Acquires 1,642 Shares of The Boeing Company (NYSE:BA)

Savvy Advisors Inc. raised its holdings in shares of The Boeing Company (NYSE:BA) by 108.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,154 shares of the aircraft producer’s stock after acquiring an additional 1,642 shares during the quarter. Savvy Advisors Inc.’s holdings in Boeing were worth $479,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Boeing by 122.0% during the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock valued at $357,712,000 after buying an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Boeing by 289.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock valued at $2,558,790,000 after acquiring an additional 1,251,165 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Boeing by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 49,724,770 shares of the aircraft producer’s stock valued at $9,596,383,000 after acquiring an additional 1,222,816 shares during the last quarter. Wulff Hansen & CO. grew its stake in shares of Boeing by 15,039.0% in the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after acquiring an additional 960,993 shares during the period. Finally, Newport Trust Company LLC raised its holdings in shares of Boeing by 1.2% during the second quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after purchasing an additional 388,633 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BA. Benchmark reaffirmed a “buy” rating and issued a $250.00 target price on shares of Boeing in a research report on Thursday, October 24th. Morgan Stanley reduced their price objective on Boeing from $195.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. DZ Bank downgraded Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered their price objective on shares of Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $190.37.

Boeing Stock Performance

Shares of NYSE:BA opened at $145.17 on Wednesday. The firm has a market cap of $89.74 billion, a price-to-earnings ratio of -11.25 and a beta of 1.57. The firm has a fifty day moving average price of $154.81 and a 200 day moving average price of $170.26. The Boeing Company has a fifty-two week low of $143.85 and a fifty-two week 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 for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business 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 period in the previous year, the company earned ($3.26) EPS. As a group, research analysts predict 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.