Coastwise Capital Group LLC Increases Stock Holdings in The Boeing Company (NYSE:BA)

Coastwise Capital Group LLC raised its position in The Boeing Company (NYSE:BA) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,603 shares of the aircraft producer’s stock after purchasing an additional 685 shares during the quarter. Coastwise Capital Group LLC’s holdings in Boeing were worth $1,004,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Newport Trust Company LLC lifted its holdings 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 acquiring an additional 388,633 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Boeing by 1.4% in the 2nd 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 during the last quarter. Jennison Associates LLC grew its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the period. Fisher Asset Management LLC raised its holdings in Boeing by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,866,857 shares of the aircraft producer’s stock valued at $739,957,000 after buying an additional 277,350 shares during the period. Finally, Legal & General Group Plc boosted its stake in Boeing by 2.0% during the second quarter. Legal & General Group Plc now owns 3,432,485 shares of the aircraft producer’s stock worth $624,749,000 after buying an additional 67,474 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

NYSE:BA opened at $155.44 on Monday. The Boeing Company has a 1 year low of $137.03 and a 1 year high of $267.54. The stock has a market cap of $96.09 billion, a P/E ratio of -12.05 and a beta of 1.57. The stock has a 50-day simple moving average of $151.48 and a 200-day simple moving average of $167.35.

Boeing (NYSE:BA) last announced 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 company had revenue of $17.84 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the business earned ($3.26) earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that The Boeing Company will post -16.19 EPS for the current year.

Analyst Upgrades and Downgrades

BA has been the topic of several recent analyst reports. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $195.00 to $169.00 in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on Boeing from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. Benchmark reiterated a “buy” rating and issued a $250.00 price objective on shares of Boeing in a report on Thursday, October 24th. The Goldman Sachs Group lowered their target price on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Robert W. Baird cut their price target 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boeing presently has a consensus rating of “Hold” and an average target price 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.