Oppenheimer Asset Management Inc. Has $7.55 Million Stake in The Boeing Company (NYSE:BA)

Oppenheimer Asset Management Inc. lifted its position in shares of The Boeing Company (NYSE:BA) by 98.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,662 shares of the aircraft producer’s stock after buying an additional 24,625 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Boeing were worth $7,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BA. Vanguard Group Inc. grew its stake 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 worth $9,596,383,000 after acquiring an additional 1,222,816 shares in the last quarter. Newport Trust Company LLC grew its position in Boeing by 1.2% in 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in Boeing by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,619,126 shares of the aircraft producer’s stock valued at $1,386,757,000 after purchasing an additional 106,513 shares in the last quarter. Legal & General Group Plc increased its stake in Boeing by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock valued at $624,749,000 after buying an additional 67,474 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Boeing by 122.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,277,548 shares of the aircraft producer’s stock worth $357,712,000 after buying an additional 1,251,456 shares during the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Down 1.3 %

Shares of BA opened at $138.13 on Friday. The stock has a market capitalization of $85.39 billion, a PE ratio of -10.71 and a beta of 1.57. The firm’s 50 day moving average is $154.03 and its 200-day moving average is $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 announced its quarterly earnings data 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 analysts’ expectations of $17.81 billion. Boeing’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned ($3.26) earnings per share. Equities research analysts predict that The Boeing Company will post -16.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BA. Robert W. Baird lowered their target price on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group decreased their target price on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Susquehanna dropped their price target on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boeing presently has an average rating of “Hold” and a consensus target price 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.