Franklin Resources Inc. Grows Stock Holdings in The Boeing Company (NYSE:BA)

Franklin Resources Inc. boosted its holdings in The Boeing Company (NYSE:BA) by 1,296.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,136,895 shares of the aircraft producer’s stock after buying an additional 1,055,472 shares during the period. Franklin Resources Inc. owned 0.18% of Boeing worth $169,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hobbs Group Advisors LLC purchased a new stake in shares of Boeing during the second quarter worth about $34,000. RPg Family Wealth Advisory LLC bought a new position in Boeing in the 3rd quarter worth approximately $28,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Boeing during the 2nd quarter valued at approximately $33,000. Cedar Wealth Management LLC purchased a new position in shares of Boeing in the third quarter worth $30,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the last quarter. 64.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. 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 report on Tuesday, September 24th. Susquehanna decreased their target price on Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Northcoast Research upgraded Boeing from a “sell” rating to a “neutral” rating in a report on Thursday. Robert W. Baird decreased their price objective on Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on shares of Boeing from $86.00 to $85.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boeing presently has an average rating of “Hold” and a consensus target price of $190.11.

Boeing Stock Performance

Shares of BA stock opened at $169.65 on Friday. The stock has a 50 day moving average price of $152.79 and a 200 day moving average price of $166.06. The Boeing Company has a 52-week low of $137.03 and a 52-week high of $267.54. The firm has a market capitalization of $104.88 billion, a P/E ratio of -13.15 and a beta of 1.56.

Boeing (NYSE:BA) last released its 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 firm had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted ($3.26) EPS. As a group, sell-side analysts forecast that The Boeing Company will post -16.18 EPS for the current year.

Boeing 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.