Brooklyn Investment Group Grows Stock Position in The Boeing Company (NYSE:BA)

Brooklyn Investment Group lifted its stake in The Boeing Company (NYSE:BA) by 95.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,064 shares of the aircraft producer’s stock after buying an additional 1,983 shares during the period. Brooklyn Investment Group’s holdings in Boeing were worth $719,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in shares of Boeing by 122.0% in the third quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after purchasing an additional 1,251,456 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Boeing by 289.8% in the third quarter. International Assets Investment Management LLC now owns 1,682,970 shares of the aircraft producer’s stock worth $2,558,790,000 after purchasing an additional 1,251,165 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Boeing by 1,296.3% in the third quarter. Franklin Resources Inc. now owns 1,136,895 shares of the aircraft producer’s stock worth $169,386,000 after purchasing an additional 1,055,472 shares during the last quarter. State Street Corp grew its stake in shares of Boeing by 2.3% in the third quarter. State Street Corp now owns 27,778,195 shares of the aircraft producer’s stock worth $4,223,397,000 after purchasing an additional 636,594 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock valued at $1,018,775,000 after acquiring an additional 602,143 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Up 1.3 %

Boeing stock opened at $171.14 on Friday. The business has a 50-day simple moving average of $162.76 and a two-hundred day simple moving average of $165.00. The company has a market cap of $105.80 billion, a P/E ratio of -13.27 and a beta of 1.52. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $217.59.

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 business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted ($3.26) EPS. Research analysts anticipate that The Boeing Company will post -16.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on BA. TD Cowen cut their price objective on Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. UBS Group cut their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird cut their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price objective on Boeing from $232.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Finally, DZ Bank cut Boeing from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.21.

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.