The Boeing Company (NYSE:BA) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC raised its holdings in The Boeing Company (NYSE:BA) by 53.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,727 shares of the aircraft producer’s stock after purchasing an additional 29,018 shares during the period. Townsquare Capital LLC’s holdings in Boeing were worth $12,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BA. Van ECK Associates Corp raised its position 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 valued at $357,712,000 after acquiring an additional 1,251,456 shares in the last quarter. International Assets Investment Management LLC increased its stake in Boeing by 289.8% during the third 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 purchasing an additional 1,251,165 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Boeing by 15,039.0% during the second quarter. Wulff Hansen & CO. now owns 967,383 shares of the aircraft producer’s stock worth $176,073,000 after purchasing an additional 960,993 shares during the period. Jennison Associates LLC boosted its holdings in shares of Boeing by 9.9% in 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 buying an additional 602,143 shares during the period. Finally, Newport Trust Company LLC grew its position in shares of Boeing by 1.2% during the 2nd quarter. Newport Trust Company LLC now owns 31,640,184 shares of the aircraft producer’s stock valued at $5,758,830,000 after buying an additional 388,633 shares during the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Boeing Stock Performance

NYSE BA opened at $152.42 on Thursday. The stock has a market capitalization of $94.23 billion, a P/E ratio of -11.82 and a beta of 1.57. The business’s fifty day moving average is $151.48 and its two-hundred day moving average is $167.77. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share 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 analysts’ expectations of $17.81 billion. During the same quarter in the prior year, the company earned ($3.26) earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts forecast that The Boeing Company will post -16.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BA shares. Morgan Stanley dropped their price objective on shares of Boeing from $195.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. UBS Group cut their price target on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Susquehanna lowered their price objective on Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group reduced their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $190.11.

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.