Truvestments Capital LLC Purchases New Shares in The Boeing Company (NYSE:BA)

Truvestments Capital LLC purchased a new stake in shares of The Boeing Company (NYSE:BA) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 383 shares of the aircraft producer’s stock, valued at approximately $58,000.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its position 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 worth $1,018,775,000 after buying an additional 602,143 shares during the last quarter. ING Groep NV acquired a new position in Boeing during the 3rd quarter valued at about $11,679,000. Lazari Capital Management Inc. increased its stake in Boeing by 55.7% during the 2nd quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock valued at $4,226,000 after buying an additional 8,309 shares during the period. Atlanta Consulting Group Advisors LLC increased its stake in Boeing by 537.6% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 7,524 shares of the aircraft producer’s stock valued at $1,144,000 after buying an additional 6,344 shares during the period. Finally, Patten & Patten Inc. TN increased its stake in Boeing by 19.8% during the 3rd quarter. Patten & Patten Inc. TN now owns 24,603 shares of the aircraft producer’s stock valued at $3,741,000 after buying an additional 4,065 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

Boeing Stock Up 1.1 %

NYSE BA opened at $152.42 on Thursday. The stock has a market capitalization of $94.23 billion, a PE ratio of -11.82 and a beta of 1.57. The company has a 50 day moving average price of $151.48 and a two-hundred day moving average price of $167.77. The Boeing Company has a 12-month low of $137.03 and a 12-month high of $267.54.

Boeing (NYSE:BA) last posted its 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 for the quarter, compared to analysts’ expectations of $17.81 billion. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.26) EPS. As a group, equities analysts anticipate that The Boeing Company will post -16.2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BA shares. Susquehanna lowered their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Boeing in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Robert W. Baird lowered their price objective on shares of Boeing from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen lowered their price objective on shares of Boeing from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $190.11.

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.